LC's are used in international transactions to ensure that payment will be received where the buyer and seller may not know each other and are operating in different countries.
At Sight.
Payable immediately – within five to ten days – after the seller meets the requirements of the letter of credit.
Also known as Deferred Payment LC or Time LC or Term LC is a letter of credit payable at a predetermined time / future date after the conforming documents are presented.
Best Services
A letter of credit is a document issued by a bank that guarantees payment to a seller on behalf of a buyer.
A bank guarantee is a promise by a bank to cover a loss in case a borrower defaults on a loan.
Proof of funds is a document or statement from a financial institution that verifies an individual or entity has a certain amount of money available.
Pre-Advice services are services offered by banks to inform the beneficiary of the details of a letter of credit before the shipping documents are presented.
Blocked funds services are provided by banks that blocks a certain amount of funds in an account for a specific purpose.
A bank comfort letter is a document issued by a bank that assures a third party of the financial soundness of a particular individual or company.
Euro Exim Bank Limited is a Group of Companies with Registered Office in Saint Lucia and a Representative Office in the United Kingdom. EURO EXIM BENK LTD (REGISTERED OFFICE) is a Class A International Banking Financial institution incorporated under the revised laws of St. Lucia. The license provides authorisation to conduct business with third parties across industries and geographies worldwide. This office is regulated by the Financial Services Regulatory Authority in St. Lucia, and does not provide any services to any natural person or legal entity in St. Lucia.
EURO EXIM BANK LIMITED (REPRESENTATIVE OFFICE) is incorporated under the laws of England and Wales with company registration number 07520196. This entity is a non-banking financial institution that facilitates international business transactions through issuance and relay of various trade finance instruments. The London-based Representative Office offers Letters of Credit and Standby Letters of Credit to corporate clients only. This office does not provide regulated or controlled services or activities.
Important Notice: Euro Exim Bank Ltd would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services of the Bank or any intermediary bearing similar names. You should verify with Euro Exim Bank by calling the Bank's Customer Service Number on +44 757 731 4553; +1 707 629 5176 or emailing inquiries@euroeximbenk.com. Please also be aware of bogus SMS messages and voice message calls or fraudsters who misrepresent services and impersonate the staff of Euro Exim Bank.