A Documentary Letter of Credit from Riyad Bank is an agreement and undertaking to settle, on your behalf, the value of purchased or imported goods against presentation of the required documents and in accordance with the terms specified by the supplier.

The Documentary Letter of Credit provides the supplier with the payment assurance required under the sales agreement, while allowing you to defer payment until shipment is completed and the seller has provided the corresponding evidence.

Riyad Bank can also issue a letter of guarantee to shipping companies, allowing you to take delivery of goods at the designated ports of discharge under the agreed letter of credit in the event the shipping documents have not yet arrived.

• Riyad Bank's documentary letters of credit are widely accepted around the world, making it easier for the exporter to benefit before or after the shipment is financed by its own bank.
• Goods are received on schedule in line with the timeline set out in the letter of credit.
• Opens the door to entering into agreements with new suppliers on competitive terms.