Export Trade Services
Export Letters of Credit are one of the most secure methods of selling goods overseas since it minimizes your risk of non-payment by foreign buyers. Your presentment to Santander Bank of conforming documents ensures that you receive payment, and that you are protected against losing title of merchandise before payment is received.
- Enables you to sell in new markets and to new customers
- Governed by international rules and procedures
- Can be confirmed by Santander Bank, thus eliminating foreign risk completely
Export Documentary Collections are a cross-border payment method in which Santander Bank acts on your behalf to control and expedite payment for your export transactions. Typically, an Export Documentary Collection is used when both the importer and exporter are well known to one another since they will rely on the creditworthiness of the other party.
- Security of having documents and payment controlled by intermediary banks until payment is made or draft processed
- Efficient and non-expensive way of processing your export receivables
- Convenience of initiating Direct Collections via the Internet with SovTrade® IQ
Export Letter of Credit Confirmations by Santander Bank provides a greater degree of protection by mitigating foreign risk, guaranteeing that you receive payment per the terms of a Letter of Credit.