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International

 Letters of Credit 

An increase in trade facilitation among many different countries has allowed the U.S. to expand its business transactions with other countries and vice-versa.   At IBC we help you facilitate your engagements in trade by offering a Letter of Credit (L/C).  Whether you are doing business with a foreign or a domestic company, Letters of Credit are one of the most important and secure financial tools available for your trade.  Most importantly, a Letter of Credit helps reduce the risk of your trade transactions with foreign individuals or corporations.  

At IBC, we have a variety of Letters of Credit to suit your needs:

  • Import or Domestic Letters of Credit-  This Letter of Credit is issued by IBC for importers guaranteeing payment to a domestic or foreign supplier on behalf of the importer.  Using this type of instrument transfers the financial obligation from the customer to the bank.  
  • Export Letters of Credit-  An Export Letter of Credit facilitates international trade for the exporter by offering them a high level of security that they will be paid for their goods or services.  This helps the exporter expand their business opportunities internationally while minimizing risk. 
  • Standby Letters of Credit-  IBC issues a Standby Letter of Credit on behalf of a customer to facilitate for them to engage in contracts with other individuals.  IBC provides assurance that the customer will fulfill the terms of a contract between the beneficiary.  A Standby Letter of Credit is also commonly used to support the credit worthiness of a customer.       

In addition to our Letters of Credit we do also offer Documentary Collections- At IBC we will act as an intermediary to collect payments in exchange for the transfer of documents that give title of possession of goods.  This is an alternative to a Letter of Credit. 

If you would like to download a Letter of Credit Application, please click on the corresponding link below:

  Download a Commercial Letter of Credit Application

 

  Download a Standby Letter of Credit Application

 

 

 

 

 

 

 

 

 

For more information, please contact IBC’s Letters of Credit Department by visiting the nearest IBC Branch or calling (956) 722-7611 extension 26234 or 26520 and/or by email at lcdepartment@ibc.com.