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Import Trade Services

Services to help you streamline the import process.

Santander Solutions

Import Letters of Credit (L/Cs) are one of the most secure methods of importing goods, and will help you reduce costs by streamlining your overseas transactions, as well as minimize your risk of paying for goods before you gain title to them.

  • Protects the importer and guarantees payment to the exporter by effecting payment only upon compliance with the L/C terms
  • It replaces your company's credit risk for that of Santander
  • Provides the ability to buy in markets where credit is not yet established
  • Governed by international rules and procedures
  • Convenience of initiating Letters of Credit and amendments via the Internet through SovTrade®

Import Documentary Collections are a cross-border payment method in which Santander Bank and a foreign bank act as intermediaries in the collection of international trade payments. It's a simple and efficient way of processing international payments when both the importer and exporter are well known to one another.

The exporter's bank remits shipping documents to Santander Bank. We will then release these documents to you against payment or acceptance.

  • Buyer's bank and seller's bank act as intermediaries to facilitate payment
  • You maintain control over authorizing payment
  • Governed by international rules and procedures
  • Convenient option of processing Import Collections via the Internet with SovTrade® IQ
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