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Import Letter of Credit

From Colombia
To Barbados
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Munmun S.
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Oct 19, 2020

How do I obtain an Import Letter of Credit if I do not have existing trade facilities?

1 answer

Oct 19, 2020

The bank may issue a LC based on the credibility of the Buyer. Buyer will need to place a Letter of Credit margin deposit of approximately 110% to 130% with the bank. The LC margin deposit percentage will be dependent on the Trade Incoterms that you are applying.

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