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Import Letters of Credit
Increase your confidence in executing international purchases with Fifth Third Bank-issued Import Letters of Credit.
With a commercial letter of credit, you, as the buyer, are obligated to pay only when the supplier presents the documents specified in the Import Letter of Credit we issue for you. You are effectively minimizing your risk of paying for goods before you gain title to them.
Our international letter of credit tools and expertise can facilitate your import transactions by:
- Providing your foreign supplier with a payment commitment. This can be especially useful in markets where you have not yet established credit.
- Helping ensure against errors and other irregularities that could occur during your transaction.
- Conserving your cash until goods you order have been shipped—or longer.
- Enhancing confidence among all parties involved in your international transaction, thus helping to improve relationships with and payments to foreign suppliers.
- Loans subject to credit review and approval.
- Deposit and credit products offered by Fifth Third Bank. Member FDIC.
It’s important to note that a letter of credit (often referred to as an import credit) does mitigate risk, but it is not an unconditional guarantee of payment to the seller or assurance to the buyer that the goods will be satisfactory. As long as the documents provided meet the letter of credit requirements, payment will be issued.
Secure technology to speed your requests for letters of credit.
You can safely request the issuance of Import Letters of Credit through Fifth Third Global Trade DirectSM, our comprehensive online trade services product.
Find out more about Fifth Third Bank Import Letters of Credit. Contact a Global Trade Solutions Sales Representative or Product Specialist.
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