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Letters of Credit

Our guarantee. Your benefit.

With a Letter of Credit, First Commercial Bank, N.A (USA), agrees to pay a certain amount of money to a specific beneficiary upon receipt of documents detailed in the Letter of Credit. We offer three types of Letters of Credit:

Documentary Letter of Credit

This Letter of Credit helps finance the purchase of merchandise, and requires the presentation of certain documents with compliance to the terms and conditions before the payment can be effected.

Standby Letter of Credit

The Standby Letter of Credit represents an obligation to make a payment to a beneficiary for funds borrowed by, advanced to, or for account of the customer, for indebtedness undertaken by the customer, or default in the performance of an obligation. Standby Letters of Credit are usually used for such personal activities as performance bonds, advance payment support and progress payment guarantees.

Export Letter of Credit

This letter guarantees payment to an exporter (seller) as quickly as possible.

Why choose a letter of credit from us?

• Use our guarantee instead of waiting until personal credit is established
• Competitive prices
• Around-the-world capability and experienced staff
• Beneficiary is assured of prompt payment
• Handling Fee: Contact our International Services Department
• Processing of Funds: Funds are paid promptly once compliant documents are received by the bank
• Turnaround Time: Letter of Credit issuance is within two business days
• TradeEnabler - for businesses