Export Letters of Credit
This service offers an assurance of payment for export shipments based on presentation of documents that comply with the Letter of Credit.
This facility facilitates international trade transactions. Since the buyer is in a different country, the exporter is assured of payment once the goods are shipped, against presentation of shipping documents per the LC terms.
This also facilitates the exporter to raise easy finance from his banker for manufacture of goods as the LC is irrevocable and backed by the undertaking by the issuing bank to pay against the presentation of documents per the LC terms and compliance of other conditions per the LC.