Import Letters of Credit
Essential for any business that purchases goods from overseas, the Import Letter of Credit is a conditional undertaking of payment for your account. It assures that your seller will be paid only after they have fulfilled all their documentary obligations. The seller benefits by the assurance that CB&T as your banker will pay them once they have presented the required documents and complied with the terms of the letter of credit.
California Bank & Trust can help structure your letters of credit to match the terms you have negotiated with your vendor and made payable in U.S. dollars or a foreign currency. Payment can be made upon presentation of documents specified in the Letter of Credit (sight) or at a future date after the documents have been presented (usance or deferred).
To use these services, contact an International Banking Letter of Credit Specialist for more information.