Import 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.
Ensures you, as the importer, that your contract will be honoured.
How it works
At your request, your Desjardins caisse commits in writing to pay your supplier 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 purchasing goods and services abroad easier.
- Guarantees you can pay suppliers.
- Letters of credit are forwarded quickly via our international network.
- Your letters of credit are processed by Fédération des caisses Desjardins du Québec experts, many of whom are Certified Documentary Credit Specialists (CDCS).
For incoterm (International Commercial Terms) definitions, visit the International Chamber of Commerce site.
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.