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Importing and Exporting Advice

Helping to secure international trade

• Letters of Credit, Collections, Bonds and Guarantees
• Specialist advice from trade experts

International trade

Bank of Scotland offers a range of documentary services to provide some security in making and obtaining international settlement. Our specialists within Bank of Scotland Trade Services can offer assistance and expertise on a range of documentary Letters of Credit to both exporters and importers.

Documentary Letter of Credit

We can issue a Letter of Credit for importers or pass on a Letter of Credit for exporters. This guarantees settlement on the condition that key documents are presented and that they comply with the terms of the Letter of Credit. These documents usually include the invoice, packing list and shipping documents.

Documentary Collections and Bills of Exchange

Unlike Letters of Credit, Collections and Bills of Exchange don’t guarantee payment. They do, however, cost less and take less time to set up. For that reason, they may be more appropriate once you have an established relationship with a company abroad. Again, we can handle these for importers and exporters.

Issuing of Bonds and Guarantees

We can also arrange to have Bonds and Guarantees issued on your behalf. These tend to be used when making bids and tenders, or for commitments relating to performance. Bonds and Guarantees are typically issued through a correspondent bank domiciled in the country under whose laws and customs the Bond or Guarantee is being issued.