A Letter of Credit (LC) is a trusted trade finance instrument that provides security in international trade by reducing risks for both buyers and sellers. Under an LC, the importer’s bank undertakes to pay the exporter, provided that the required documents are presented in full compliance with the LC terms and conditions. This assurance helps build trust and enables trade between parties who may not be familiar with each other.

Import Letter of Credit

By issuing an Import Letter of Credit on your behalf, Wing Bank assures your overseas supplier of payment once the agreed shipping documents are presented. This protects your business from the risk of making payment without receiving the goods, while ensuring your supplier is paid according to the agreed conditions.

Export Letter of Credit

(Advising / Confirming / Negotiation / Discounting)

An Export Letter of Credit provides exporters with a bank payment undertaking once compliant shipping documents are presented. Wing Bank offers advising, confirming, negotiation, and discounting services to help exporters receive payments securely and improve cash flow.

Benefits

• Provides secure and guaranteed payment for both buyers and sellers
• Reduces the risk of non-payment or non-delivery in international trade
• Builds trust between unfamiliar trading partners
• Helps exporters receive payment promptly upon presenting compliant documents
• Allows importers to make payment only when goods and documents meet LC terms
• Supports smoother cash flow and financial planning for both parties
• Offers flexible services, including advising, confirming, negotiation, and discounting

Product Features

• Available for both Import and Export transactions
• Supports Sight and Usance (time) LCs
• Offers advising, confirming, negotiation, and discounting services
• Secure handling of shipping and commercial documents
• Ensures payment is made only when documents comply with LC terms
• Governed primarily by the Uniform Customs and Practice for Documentary Credits (UCP 600)
• Flexible currency options for local and international trade

Simple Conditions

• Available to eligible corporate and individual customers with an active account at the bank
• Subject to credit approval and compliance with bank policies
• Issuance and payment governed by UCP 600 and applicable regulations
• Fees, charges, and processing times depend on LC type, amount, and tenor
• Payment or acceptance occurs only when presented documents meet LC terms
• All services are subject to the bank’s prevailing terms, conditions, and regulatory requirements