Letters of Credit
Minimize the risk associated with international transactions and ensure your company’s best interests are carried out with RBC Bank’s Letters of Credit. With our strong credit rating and well-known name, our knowledgeable international advisors can provide Letters of Credit that make your international transactions safe, secure and hassle-free.
Import Letter of Credit
Confidently buy from overseas with an Import Letter of Credit (subject to credit approval). This formal promise of payment to your foreign supplier is contingent upon the supplier's compliance with terms and conditions in the Letter. We will ensure your conditions are met and that documentation is complete before releasing payment to the supplier.
Export Letter of Credit
When you receive an Export Letter of Credit in exchange for exported goods, your payment depends on the strength of the issuing bank's credit – eliminating credit risks associated with a foreign buyer. Let us help you negotiate the most desirable terms for your export transaction. We also can handle all aspects of receipt, authentication and confirmation as well as, in many cases, negotiation and payment of the Letter.
If you need a fast, efficient way to guarantee payment and contract terms for domestic transactions and long-standing vendor relationships, RBC Bank also offers Standby Letters of Credit.