Learn About the Import Documentary Credit Process
Learn About the Import Documentary Credit Process
Director, Trade & Supply Chain Finance Product Treasury & Payment Solutions
Sunil has 25 years of banking experience spanning various areas including, trade finance product development, project management, technology & business transfor…
Sunil has 25 years of banking experience spanning various areas including, trade finance product development, project management, technology & business transfor…
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As an importer, you need to convey your creditworthiness to Seller, especially those you’ve not done business with before.
That’s where BMO’s Import Documentary Credit solution can help.
Talk to a member of our Global Trade Finance team. Contact Us to learn more about Import Documentary Credit.
As an importer, you need to convey your creditworthiness to Sellers, especially those you’ve not done business with before.
That’s where BMO’S Import Documentary Credit solution can help.
Here’s how it works:
After reaching a trade agreement with a Seller, you submit a Letter of Credit application to BMO.
BMO then issues a Letter of Credit to that Seller’s bank, promising to submit payment upon receipt of the necessary import documentation.
Once the Seller has received this Letter of Credit from their bank, they ship the goods to you and submit the import documents to BMO.
After verifying that these documents align with the Letter of Credit, BMO makes a payment to the Seller’s bank on your behalf, and sends you the documents you need in order to claim your goods.
An Import Documentary Credit not only benefits you …
It benefits your Seller, too.
Talk to a member of our Global Trade Finance team to learn more.
Trade and Supply Chain Finance Product Solutions
PART 1
Learn About the Approved Payable Finance Process
Sunil Gupta February 13, 2024
In today’s competitive market, buyers want to optimize their supply chains, and sellers want to optimize their working capital. …
PART 2
Learn About the Receivable Purchase Finance Process
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PART 3
Learn About the Export Documentary Credit Process
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PART 4
Learn About the Export Documentary Collection Process
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As an exporter, you’re not required to handover title to the goods you’ve shipped until you’ve received payment from the …
PART 6
Learn About the Import Documentary Collection Process
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As an importer, you stand to benefit financially if you are not required to pay for goods in advance. That’s where BMO’s Imp…
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May 6, 2024 Toronto
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