Letter of credit

Letter of credit


  •  For the buyer — funds are transferred to the seller only upon completion of the deal
  •  For the seller — regardless of changes in the buyer's financial condition, the seller is guaranteed to receive funds


  • The funds are placed in the Bank
  • When crediting funds to the account for subsequent opening of a letter of credit, the Bank verifies their authenticity


  • Low cost compared to a safe deposit box