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LETTERS OF CREDIT
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Trade and Finance Division offers its assistance for the issuing of Letters of Credit.

The documentary letter of credit (LC) is one of the most important financial tools for international trade and is an effective solution to eliminate the majority of risks for both the buyer (importing party) and the seller (exporting party).

BENEFITS OF A LETTER OF CREDIT
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-   The buyer is able to buy the goods and pay for them after shipment of goods
-   There is no financial risk to the buyer if the goods are not shipped after the order is placed
-   The LC issuing bank extends its credit to the buyer which helps him to buy from new vendors
-   No funds are blocked until documents are received after the shipment, thereby improving cash flow
-   The buyer is also assured that goods are shipped in time, failing which there is no liability to pay
-   The seller does not run the risk of cancellation of the order as the LC is irrevocable
-   Payment is assured after shipment on submission of documents complying with the terms of the LC and other conditions. So he does not run the risk of non- payment after the shipment
-   It helps to raise finance for production of goods thereby meeting working capital requirements
 
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86 Makariuo 111 Ave, Office 4, 1077 Nicosia
Cyprus

 

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Letters of Credit
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Letters of Guarantee
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