Book Apointment

Letter of Credit

Letter Of Credit

LC’s are used in international transactions to ensure that payment will be received where the buyer and seller may not know each other and are operating in different countries.

We deal with two types of Letters of Credit

At Sight

The payment becomes due shortly, typically within five to ten days, as soon as the seller successfully satisfies the conditions outlined in the letter of credit.

Usance

Referred to as a Deferred Payment LC, Time LC, or Term LC, this type of letter of credit mandates payment on a specified future date, contingent upon the submission of compliant documents.

General Ask

  • Applicant sends us the pro-forma/sales invoice.
  • EEB will create a draft instrument and send a quote to you stating our charges (to be paid in advance).
  • Once the draft has been accepted, an indemnity with be sent to you (KYC/AML/due diligence) documents which need to be signed and notarized by a lawyer.
  • We also send you a formal invoice for our indemnity process and issuance charges.
  • Once our invoice has been paid, along with all indemnity documents, subject to legal and compliance acceptance, we will SWIFT the instrument to the beneficiary’s bank.
  • Escrow account facilities with a UK third party are also available to assist in settlement of invoices, and we request for a commitment fee along with Escrow administration charges.
  • The beneficiary sends the goods to you and the documents to us.
  • Once documents have arrived, we have three business days to act on it, after which, if formally accepted, we send you a copy of the documents.
  • Upon acceptance of the documents, you will be required to pay the beneficiary. When completed, we send you all the original documents.
  • Goods arrive.

EEB Disclaimer

Euro Exim Bank Limited is a Group of Companies with Registered Office in Saint Lucia and a Representative Office in the United Kingdom. EURO EXIM BANK LTD (REGISTERED OFFICE) is a Class A International Banking Financial institution incorporated under the revised laws of St. Lucia. The license provides authorisation to conduct business with third parties across industries and geographies worldwide. This office is regulated by the Financial Services Regulatory Authority in St. Lucia, and does not provide any services to any natural person or legal entity in St. Lucia.

EURO EXIM BANK LIMITED (REPRESENTATIVE OFFICE) is incorporated under the laws of England and Wales with company registration number 07520196. This entity is a non-banking financial institution that facilitates international business transactions through issuance and relay of various trade finance instruments. The London-based Representative Office offers Letters of Credit and Standby Letters of Credit to corporate clients only. This office does not provide regulated or controlled services or activities.

Important Notice: Euro Exim Bank Ltd would like to advise its customers to report any suspicions which they may have regarding the identity of any intermediary who promotes products or services of the Bank or any intermediary bearing similar names. You should verify with Euro Exim Bank by calling the Bank's Customer Service Number on +44203 011 0133 or emailing info@euroeximbank.com. Please also be aware of bogus SMS messages and voice message calls or fraudsters who misrepresent services and impersonate the staff of Euro Exim Bank.