Import Letter of Credit
Eliminate the need to pay for goods in advance
Minimize the risk of importing goods
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Specify shipping dates for better control of your inventory
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Get longer payment terms and help improve your cash flow
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Outline the exact documentary conditions under which you will pay your Seller
Import with confidence
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Help ensure the goods received are the ones you ordered by including an inspection certificate in the Letter of Credit terms
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Securely submit an Import Letter of Credit application online anytime, through TRADEXPRESS elite® Plus1
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Our Trade Finance Specialists are available to guide you through the process and offer expertise
The Import 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 Scotiabank to issue a Letter of Credit in favor of the Seller.
- Scotiabank issues the Letter of Credit and sends it to the Seller’s Bank.
- The Seller’s Bank 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
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Availability is subject to the terms and conditions of an Electronic Communication Agreement (TRADEXPRESS elite Plus) to be agreed between the customer and Scotiabank.