Import letter of credit

An agreement between financial institutions to pay the seller for international commercial transactions based on documents and not the merchandise or service involved.

Ensures you, as the importer, that your contract will be honoured.

How it works

At your request, your Desjardins caisse commits in writing to pay your supplier a specific amount within a given time period once it has received the documents specified in the letter of credit. Find out how documentary credit works

Payment options

• Letter of credit payable at sight: payment is made upon presentation of the documents requested.
• Letter of credit payable on term: payable at a determined future date after presentation of the documents requested.

Advantages

• Makes purchasing goods and services abroad easier.
• Guarantees you can pay suppliers.
• Letters of credit are forwarded quickly via our international network.
• Your letters of credit are processed by Caisse centrale experts, many of whom are Certified Documentary Credit Specialists (CDCS).

For incoterm (International Commercial Terms) definitions visit the International Chamber of Commerce website.

	At the caisse	Make an appointment with an advisor at a caisse.
	At a Desjardins Business Centre	Make an appointment with an account manager at a Desjardins Business Centre.