Letters of Credit are used when a business customer or potential customer requires an assurance of worthiness prior to engaging in business. Essentially, a Letter of Credit is an un-advanced line of credit confirmed by the bank. As part of its services, BMI opens Letters of Credit for its commercial customers upon request.
Through BMI's Letter of Credit service, you can facilitate international sale transactions by reducing risk and ensuring payment on your goods and services.
Our Letter of Credit Service provides:
- Reasonable assurance of payment
- Prompt payment
- Possible financing availability
How BMI's Letter of Credit Service works:
Letter of Credit is the instrument most frequently used to guarantee payment for imported and exported goods and services. Because they mitigate the commercial and political risks taken on by buyers and sellers residing in different markets, Letters of Credit also expedite sales internationally. Getting started is easy, and BMI will safely guide you through the whole process from start to finish.
To find out more about BMI's Letter of Credit Service, refer Processing LC , email us or contact any of our branch.
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