Export Documentary Credits are an instrument issued by the Bank in favor of the supplier or exporter on behalf of the buyer or importer, under which the Bank undertakes to pay the beneficiary the value of the goods against presentation of documents that are compliant and consistent with the terms specified in the letter of credit, in accordance with the underlying contract.

• Payment can be settled under the letter of credit to the beneficiary at sight, on a deferred basis, or by negotiation. *
• Export invoices can be prepaid (subject to approval) at competitive rates, accelerating your cash flow.
• A confirmation can be added to the letter of credit, removing the risk of non-payment through the commitment of the importing country's bank to complete the export transaction.

Negotiation refers to the purchase or advance payment made by a bank other than the issuing bank (under a letter of credit issued by another bank), or the authenticated presentation of documents through approval of an advance payment to the beneficiary ahead of its being due from the issuing bank to the negotiating bank.