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Letter of Credit Confirmation
When
undertaking international trade, it is good practice to mitigate
risks associated with the business and receive some guarantee
of payment.
While
some traders are happy to deal on Open Account or Bill for
Collection terms, these still leave a customer exposed to
the many risks inherent in foreign business deals.
Payment
may be delayed, and sometimes payment may not be made at all.
Political events, currency fluctuations in the country of
the importer, and the issuing bank's inability to repay its
obligations can all keep the payment from being made.
At Standard
Chartered, our extensive resources and wealth of trade expertise
enable us to offer you a swift, convenient and effective Confirmed
Letter of Credit Service. A Confirmed Export Letter of Credit
can help you mitigate the risks of dealing with foreign counter-parties,
especially if you have not traded with them before, or they
are located in a high-risk area of the world. Standard Chartered
will confirm the Letter of Credit, absorbing the bank and
country risks associated with the transaction. In return,
you simply provide us with all the relevant, compliant documents
called for under the terms of the Letter of Credit.
 For Exporters |
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