Reduce Your Risk and Provide Assurance to Suppliers
Importing goods for resale in Canada presents some risks to your business. Most notably, whether or not you will receive what you ordered - and what you paid for.
Leveraging credit and trade finance solutions will help you to bring goods into Canada, while assuring payment to the seller in the exporting country.
Import Letters of Credit
An import letter of credit is a document issued by a major bank on your behalf. The import letter of credit guarantees your international supplier payment for goods or services, provided the terms have been met (for example, the product has been shipped).
By using an import letter of credit for your international purchases, you can:
- Conserve your company's cash flow by eliminating the need to make advance payments or deposits
- Strengthen relationships by demonstrating your company's creditworthiness to suppliers
- Support your suppliers' access to bank credit. In many countries, letters of credit are pledged by exporters as security against working capital loans
Through Import Documentary Collections, RBC acts as an intermediary in the purchase process, providing you with an opportunity to review key documents before paying your supplier.
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
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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.