Be Confident You Will Receive Payment
As an exporter, it is important to consider the credit risk of your foreign buyer. But it's not always possible to receive cash in advance for your goods.
If you are selling products and services outside of Canada, we have solutions to help limit your financial risk and improve your cash flow.
Export Letters of Credit
An export letter of credit is a document issued by a major bank on behalf of your customer. The letter of credit constitutes a promise to pay you, upon receipt of your goods or services, provided the terms of the letter of credit have been met.
By asking that a letter of credit is issued for your transaction, you protect yourself and your business by:
- Ensuring that you are paid - even if the buyer fails to pay, the bank that issued the export letter of credit is obliged to pay for your goods or services if your documents comply
- Enhancing your cash flow - even if the payment terms allow the buyer 30 days to pay, we can pay you immediately, less a small fee
- Providing greater security of payment - if using our confirmation service, even if the buyer and the issuing bank refuse to pay, we will pay your company if your documents comply with the letter of credit
Export Documentary Collections ensure that the collecting bank will release key documents to your purchaser only when payment has been made or financing confirmed by your customers bank. By taking advantage of this service, you can:
- Maintain ownership of your goods until payment is received or financing is confirmed by your customers’ bank
- Simplify your administration by delegating follow-up of your transactions to us
A Guarantee is an essential tool to help your business establish its performance capability and financial integrity with clients and suppliers.More About Guarantee Solutions
Our Most Popular International Trade Products
Foreign Exchange Services
Discover how you can save on your foreign exchange transactions and minimize your risk.
Pay your domestic and international vendors, in over 30 countries.
Assure your clients and suppliers of your financial integrity without tying up working capital
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Our dedicated specialists will work with you to provide the financial advice and solutions that best suit your business.