Import Letter of Credit
Eliminate the need to pay for goods in advance
Minimize the risk of importing goods
Specify shipping dates for better control of your inventory
Get longer payment terms and help improve your cash flow
Outline the exact documentary conditions under which you will pay your Seller
Import with confidence
Help ensure the goods received are the ones you ordered by including an inspection certificate in the Letter of Credit terms
Securely submit an Import Letter of Credit application online anytime, through TRADEXPRESS elite® Plus1
Our Trade Finance Specialists are available to guide you through the process and offer expertise
The Import Letter of Credit Issuance Process
- The Buyer and Seller agree on a purchase and sale of goods where the payment is made via Letter of Credit.
- The Buyer completes an application requesting Scotiabank to issue a Letter of Credit in favor of the Seller.
- Scotiabank issues the Letter of Credit and sends it to the Seller’s Bank.
- The Seller’s Bank verifies the Letter of Credit for authenticity and sends a copy to the Seller.