Letters of credit have appeared almost simultaneously with banks. Their performance is based on the fact that the solvency of an unknown buyer is replaced with the solvency of a well-known bank. SUISSE BANK PLC often has to put itself in place of its clients and give certain liabilities that the payment will be made subject to performance of certain conditions. Such mechanism is called a letter of credit or a documentary letter of credit.
All expanding businesses would know that a letter of credit is extremely important. You need a guarantee from a service provider like us to be completely sure. It is one of the various utilities that help a business grow out of the original country. In other words, a letter of credit is what a company requires to function smoothly in imports and exports of services and products.
If you indulge in international trade, you need a trade financing bank that can work as a financial partner. SUISSE BANK does exactly that. Our speciality is not only competitive fees or world-class infrastructure, but also customer satisfaction. You see, we aim at being authoritative in what we do.
There are various kinds of letters of credit. For example, you might need a documentary letter of credit or an irrevocable letter of credit. It depends on the situation and the kind of business we are talking.
Whether you need one of these solutions, we are the right choice for you:
- to seal a deal,
- to confirm payment,
- to ensure that the other party pays up and pays up on time,
- guarantees on delivery or dispatch,
- another international trade guarantee and safeguard.
We have years of experience in dealing with all kinds of businesses, from small and start-ups to big enterprises. We have always delivered reliable service.
So, whether you need a documentary letter of credit or an irrevocable letter of credit, you can rely on us. You can be sure that you will get the best trade financing solutions to your business expansion requirements if you choose us because we do not treat you as a client, we treat you as a partner in business and we will be proud to have you by our side.
The requirement of a letter of credit means you need to meet certain conditions for the payment to process. Without us as a mediator, it will be difficult to ensure. You can leave it up to us to take care of it all.
HOW DOES IT WORK?
When the Buyer applies for the import letter of credit it specifies the exporter, amount, currency, time, commodity type as well as other payment terms. Then the exporter in its country is informed that a letter of credit has been opened in its name, in this manner it becomes an export letter of credit beneficiary. Then the exporter ships the goods to the importer and presents necessary documents to the bank. The bank checks the documents for their correspondence to the letter of credit and makes payment to the exporter. Eventually the bank requests settlement from the importer.
Please fill out the online writable application. Send us the copy of the application with all the required documents first by email and courier the originals to our postal address:
Emaar Square, Downtown Burj Khalifa
United Arab Emirates
Phone: +971 4313 2552
Fax: +971 4313 2433
Should you have any queries or concerns, please feel free to contact us.