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

  1. The Buyer and Seller agree on a purchase and sale of goods where the payment is made via Letter of Credit.

  2. The Buyer completes an application requesting Scotiabank to issue a Letter of Credit in favor of the Seller.

  3. Scotiabank issues the Letter of Credit and sends it to the Seller’s Bank.

  4. The Seller’s Bank verifies the Letter of Credit for authenticity and sends a copy to the Seller.

Frequently asked questions

For specific questions relating to Trade Finance, please contact

Amit Sharma
Director, Trade Finance, Commercial Sales