International

Provide you business with advantageous services to carry out your international transactions: the Banque Populaire supports you around the world for receiving or issuing funds, support in importing/exporting, making payments in foreign currencies, as well as solutions for securities and bank guarantees.

 

IMPORT / EXPORT DOCUMENTARY CREDIT

With Documentary Credit, the bank undertakes to pay the supplier on receipt of documents certifying the despatch of the goods or the provision of a service. Payment is thus assured when the conditions and documents determined by the buyer are complied with.

Additional information

A simple principle

It is the irrevocable arrangement for a bank to pay the supplier a specific amount in return for the remittance, by a fixed deadline, of documents certifying that the goods have been despatched or the service has been provided. Documentary Credit thus ensures that a sum of money is made available when the seller complies with the conditions and documents previously set by the buyer.

Two examples

Non-confirmed irrevocable: the importer’s bank undertakes to honour the payment up to an agreed date, subject to compliant documents being received.
Confirmed irrevocable: the documentary credit having been confirmed, the importer’s bank and the exporter’s bank both undertake to honour the payment up to the agreed date, subject to compliant documents being received.

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