Export letters of credit
An agreement between financial institutions to pay sellers for international commercial transactions based on documents and not the merchandise or service involved.
Guarantees that you, as the exporter, will receive payment for your transactions.
How it works
At the request of your client (the importer), a foreign financial institution commits in writing to pay you a specific amount within a given time period once it has received the documents specified in the letter of credit. Find out how documentary credit works.
Payment options
- Letter of credit payable at sight: payment is made upon presentation of the documents requested
- Letter of credit payable on term: payable at a determined future date after presentation of the documents requested
Advantages
- Makes your sales of goods and services abroad easier.
- Letters of credit are forwarded quickly via our international network.
- For letters of credit payable on term, we can process transactions immediately to improve your cash flow.
- Your letters of credit are processed by Fédération des caisses Desjardins du Québec experts, many of whom are Certified Documentary Credit Specialists (CDCS).
Did you know?
You can also use LC Express to process letters of guarantee directly online. Learn more about the online letter of credit service.