Importing goods for resale in Canada presents some risks to your business model. Most notably, whether or not you will receive what you ordered - and what you paid for.
Leveraging credit and trade finance services will allow you to bring goods into Canada, while assuring payment to the seller in the exporting country.
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, such as a product being loaded onto a ship to come to Canada, of the letter of credit have been met (for example, the product has been loaded onto a ship to come to Canada).
By using an import letter of credit for your international purchases, you can:
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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