Export Letters of Credit
Scotiabank offers a full range of services related to Export Letters of Credit, which ensure the issuing bank will provide payment when you ship merchandise and present your documents in conformity with the terms of the Export Letter of Credit.
Most of the time, this is sufficient to guarantee that you are paid for your shipped goods. For added protection, Scotiabank can, in many cases, confirm an Export Letter of Credit: instead of merely asking your buyer for an irrevocable Export Letter of Credit, you can go one step further and request that it be advised through, and confirmed by, Scotiabank. Our confirmation, added to the Export Letter of Credit, represents our undertaking to pay you and relieves you from any concerns about whether the issuing bank will provide payment.
Electronic Solutions for Exporters:
TRADEXPRESS1 ExportDoc is an easy-to-use software package designed exclusively for exporters that simplifies the preparation of shipping documents for presentation under Letters of Credit, Documentary Collections, or open account transactions.
Our fully automated TRADEXPRESS elite enables you to receive an electronic copy of your Export Letter of Credit, Standby Letter of Credit, and Letter of Guarantee, together with the cover letter and related data for your reports.
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