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As an importer, you run the risk of not receiving the exact goods you have ordered and paid for. Our import services are designed to minimize the uncertainties and risks associated with cross-border trade and help you to maintain tighter control.
Import Letters of Credit
Many suppliers insist that you pay in full in advance of shipping, which can put you at risk. When you use a letter of credit as an undertaking of payment, you’re less vulnerable to non-receipt of goods you have ordered.
Scotiabank’s Import Letters of Credit enable you to define the exact conditions under which your supplier will be paid: specify shipping and payment dates for better control of your inventory and cash flow, and request third party inspections to ensure that the goods you receive are the ones you ordered.
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Open Account Service
Our new Open Account Service provides you with an online solution for open account processing — from creating a purchase order through to effecting a payment. Learn more  |
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For greater convenience, you can prepare and submit Letters of Credit 24 hours a day, 7 days a week securely through our web-based TRADEXPRESS elite™ service.
TRADEXPRESS elite service provides an electronic link to our processing department. We offer a full range of services for both importers and exporters, from submission through to expiry, covering all related data transactions for your reports. We’ll ensure payment is made, or funds are received.
For more information about Import Letters of Credit, please speak to your Relationship Manager or contact us.
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