Letters of Credit
Letters of Credit (LC) are most widely used financing tool for international trade allowing for effective risk management and overall reduction of transactional costs.
A Bank Guarantee is a written instrument issued by a bank to a party (beneficiary) on behalf of the customer (principal), stipulating payment by the bank to the beneficiary in case of default, against the submission of a written demand and/or other documents specified in the guarantee text.
Standby Letter of Credit
Standby Letters of Credit are often used in international trade transactions, such as the purchase of goods from another country.
A Documentary Collection is one of the forms of payment for the goods supplied, mainly used in international trade transactions.