Export Letters of Credit
Scotiabank offers a full range of services related to Export Letters of Credit, which ensure the issuing bank will provide payment when you ship merchandise and present your documents in conformity with the terms of the letter.
Most of the time, this is sufficient to guarantee that you are paid for your shipped goods. For added protection, Scotiabank can, in many cases, confirm an Export Letter of Credit: instead of merely requesting it from your buyer, you can go one step further and request that it be advised through, and confirmed by, Scotiabank. Our confirmation, added to the Export Letter of Credit, represents our undertaking to pay you and relieves you from any concerns about whether the issuing bank will provide payment.
Electronic Solutions for Exporters:
Our fully automated service allows you to receive, for your records, a copy of your export letter of credit, standby letter of credit, and warranty letter, together with the shipment letter and related information.