Letters of Credit

As the local and global economies continue to grow, our Letter of Credit group has the tools and products you need to grow your business. Whether you are importing goods from overseas or need to provide financial security locally, we can meet your needs and deliver the quality service you deserve.

  • Export Letters of Credit
  • Import Letters of Credit
  • Standby Letters of Credit
  • Government Assistance
  • Trade Finance

 

Export Letters of Credit

Our experts will help design your export letters of credit to minimize risk and maximize cash flow. We will even assist you in developing a pro-forma letter of credit that can be incorporated in your sales contract. When you are ready to present your documents, we'll control the process from beginning to end. We'll track your payments so you don't need to, and we'll advise you immediately upon receipt. If reducing international collection time and improving your cash flow are paramount to your company, our International Group is for you.

Import Letters of Credit

If you require letters of credit to import goods and services from overseas, our team of experts can guide you through the process. Our associates are professionals with many years of experience who know that trade finance is our business, not yours. We'll provide accurate advice on constructing documents relating to your import transactions. Through E3TradeNet, you now have the power to send global trade transactions electronically in a fully secured environment - at any time on any day.

Standby Letters of Credit

Our standby letters of credit are widely accepted in the local US market and worldwide and support a wide variety of activities including construction, insurance premium, EPA and bond issue guarantees.

Government Assistance

There are a variety of credit and guarantee arrangements to help facilitate the export of goods and services whether for a single transaction, for a specific project or for an ongoing contract. Allow us to help you employ techniques such as recourse and non-recourse financing, receivable discounting, term financing and guarantees under government and quasi-governmental support programs through Eximbank and the S.B.A.

Trade Finance

Do you need terms from your supplier? We are prepared to support you by accepting exporter drafts under a time or deferred payment letter of credit when your company is named as the beneficiary. This facility, known as Bankers' Acceptances (BA's), can help you postpone payment until you have sold the merchandise. The rates are competitive and usually below the prime rate. If you need financing to manufacture or source merchandise for export sale, our Pre-Export Financing may be for you. We enjoy the challenge of finding a solution to your export needs.

E3TradeNet

E3TradeNet is an interactive, web-based tool for international trade transactions. This front-end system makes the processing of transactions quick and efficient. As an online service, E3TradeNet provides information when you need it, straight to your desktop with additional control and protection in processing transactions.

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