Do you wish to enjoy competitive rates on your import credit or take a loan? There are various financial institutions that have made it easy to obtain credit within minutes for the import process. If you’re looking for someone who could finance the purchase of your bikes for import process then you can contact these institutions and take a sigh of relief. These institutions give you access to money anywhere and at any time. Have a glance onto few of these financial institutions that can provide you credit for import bill of collection and will help you manage your cash flow according to the requirements of your business.
1. Issuance of documentary credits
Letter of credit is absolutely important for settling trade transaction overseas. In order to meet your letter of credit requirement, you can contact the extensive correspondent bank network that easily issues credit $20 million per import transaction. These banks also issue a letter of credit depending on the need of your specific transaction. You can also enjoy faster and efficient remittance to your supplier at the recommended budget.
Requirements
You need to have a credit facility in order to receive a letter of credit with the issuing bank. The electronic issuance of a letter of credit has been made easier because now you don’t need to pay any additional cost above issuance fees which was earlier a far-sighted dream. If the initial setup that is required for global trade finance is swift you’ll receive the letter of credit within no time. You can then import letter of credit application electronically to TD bank for processing via TD bank trade.It’s also important that the letter of credit is consistent with the terms and conditions enlisted in the commercial contract. An irrevocable letter of credit is impossible to be changed or canceled without the consent of exporter, importer and the issuing bank.
2. More favorable trade terms by letter of credit
When a letter of credit is given to an importer he can negotiate a favorable trade term with other parties and the exporter and he can also transfer it to a third party if it is stipulated in the letter of credit that has been issued by the bank. You’ve to comply with all the terms and conditions of the documentary credit and the issuing bank will promise to pay you within no time.
In international trade transaction, you need to get import credit. Enjoy a faster and efficient remittance as these financial institutions can lighten the burden on your pocket for the import process.
