Export Letter of Credit
A payment undertaking from a bank in favour of a Seller
Enhance your ability to collect payment
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Your payment is guaranteed, if you meet all the terms and conditions for drawing under the Export Letter of Credit
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Discounting of future payment by Scotiabank, if agreed, may allow the Seller to offer extended payment terms to its Buyer1
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Payment can be sent to your account with Scotiabank or another Canadian financial institution
Expertise, opportunities and convenience
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Our Trade Finance Specialists are available to guide you through the process and offer expertise
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Use your Export Letter of Credit to unlock other financing opportunities, for example Pre-Shipment Finance
The Export Letter of Credit Issuance Process
- The Buyer and Seller agree on a purchase and sale of goods where the payment is made via Letter of Credit.
- The Buyer completes an application requesting its Bank to issue a Letter of Credit in favour of the Seller.
- The Buyer’s Bank issues the Letter of Credit and sends it to Scotiabank.
- Scotiabank verifies the Letter of Credit for authenticity and sends a copy to the Seller.
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Frequently asked questions
For specific questions relating to Trade Finance, please contact
Amit Sharma
Director, Trade Finance, Commercial Sales
Email: amit2.sharma@scotiabank.com