The main risk for exporters is that merchandise that has been sent is not paid for. At Scotiabank, our goal is to help exporters to minimize this risk, increase sales, and ensure that they receive payment upon selling merchandise to a foreign purchaser. Apart from our traditional services, such as Letters of Credit and Documentary Collections, our team of specialists in international business regularly analyzes the trends in exportation finances to ensure that we are at the forefront of new developments and services in the world of foreign business.
Export Letters of Credit
Ship merchandise and present your documents with an Export Letter of Credit, and set up a guarantee of the receipt of payment from the issuing bank.
The direct collection method reduces processing time and speeds up payment.
A guarantee issued by Scotiabank can be the solution for buyers in the international market who look to ensure the fulfilment of their contracts.
Standby Letters of Credit
Scotiabank also offers you Standby Letters of Credit that comply with international market requirements.
Confirmation of Export Letters of Credit: Rather than simply asking your buyer for an irrevocable Letter of Credit, you can go one step further and request that they be notified and confirmed by Scotiabank. Our confirmation, added to the Letter of Credit, represents our promise of payment and removes the worry that the issuing bank may fail to pay.