Commercial Letter of Credit

Commercial Letter of Credit

Commercial Letter of Credit assures the payment of goods in the case that one of the parties engaged in international trade fails to comply with the specified conditions and international trade rules.

You can get detailed information about Commercial Letters of Credit and make your application through our nearest branch.

Features

  • Letter of Credit assures the payment of the goods provided in the case that the terms mutually agreed upon by the buyer and the seller and international trade rules are not complied with. 
  • Doing business in a foreign country in different market conditions with a company you don't know bears risks. Sellers want to collect the payment of the goods sold, and buyers want to receive the goods specified in the agreement on time. A commercial letter of credit provides the highest level of trust for both of the trading parties.
  • Since the bank will not make any payments to the seller who fails to fulfill the terms of the commercial letter of credit, it creates a trustful environment for the buyer. And since the payment will only be made upon the submission of the documents specified in the commercial letter of credit to the bank, it provides financing convenience for the buyer. 

Who can take advantage of this product?

  • SME’s