Documentary services
Every business involved in international trade is exposed to some form of risk. Our international banking specialists can provide a variety of services designed to help you manage these risks and make international trading as simple and as safe as possible.
Letters of Credit
These are internationally recognised and one of the most secure methods of settlement. As an importer, this is a recommended service if you want to be sure you’ll receive your goods before you pay *. Alternatively, Letters of Credit are beneficial to an exporter if you want to guarantee payment for your goods.
- Safe and effective
- Peace of mind
- Reduces financial risk
- Opens your business up to new markets
* Please note, there is no guarantee that the goods will arrive before the documents, which will be needed to obtain the goods.
Documentary Collections
This is a secure and universally-recognised way of sending and receiving goods overseas. An exporter will submit documents to their bank; once payment has been received, the importer takes control of the documents, as well as the goods. These cost less and are quicker to set up than letters of credit – offering a compromise between open account terms and payment in advance.
- Safe
- Universally accepted
- Simple and easy to use
Bonds and Contract Guarantees
When you are trading overseas and do not have established relationships, bonds and contract guarantees can reduce the risks faced by both parties. These provide the beneficiary with acceptable security if the applicant is unable to fulfil its obligations in the original contract.
- Safe
- Globally accepted
- Competitively priced
View our International Banking Tariff
For more information, please contact your Relationship Manger or nearest Corporate Banking Centre. Alternatively, call the Foreign Services Team on 08457 558 888 (Lines are open 8am to 4pm Mon to Fri) or email foreign.banking@co-operativebank.co.uk.
