Export documentary credits

loader Cargando...


A documentary credit or letter of credit is a means of collecting payment that irrevocably guaranteescollection, provided the exporter meets the requirements established in the conditions governing format and timeframe.

At Cajamar Caja Rural we understand the importance of speed and agility when it comes to managing commercial documentation. For that reason, we have a team of experts in Foreign Trade to advise you if required.

Call our Foreign Trade customer helpline if you have any questions, or to find out the current status of your letter of credit: 901 10 11 54.

If you wish, you can send us draft versions of the documents you are going to submit so we can check them. This way, when you present the final documentation, you can be sure it meets all the requirements and that collection will be guaranteed.

We also have a Translation Service you may use when you receive a letter of credit in a language you do not speak. Remember, it is important to understand the terms and conditions, since your presentation of the correct documents depends on your understanding of what is required.

Furthermore, if you have a Foreign Trade Facility, you can apply for Prefinanciación o Financiación should you need it.

What advantages does it offer exporters?

  • You are guaranteed to collect payment provided you present documents that meet the requirements in terms of timeframe and format.
  • You can start exporting to unknown markets, since the letter of credit is a secure method of collecting on payments owing to you.
  • It allows you to arrange finance if collection is deferred: often, the price of the invoice charged when granting finance to the importer is higher than the cost of anticiparte with Cajamar Caja Rural.

Remember that

  • All letters of credit should comply by the Uniform Customs and Practices for Documentary Credits drafted by the International Chamber of Commerce: UCP 600, 2007 revision. These are internationally accepted rules that you should know.
  • Banks do not inspect goods. They have an obligation to pay once they receive the correct documents. Therefore, if you present the correct documents, you are guaranteed to collect on payments owing to you.
  • It is a method of payment that can also be used within the domestic market.
  • The success of the operation largely depends on all the terms and conditions being previously agreed between importer and exporter, and well understood by both parties.

Request more information
(in Spanish)

Do you still have doubts?, fill out the form below and we will resolve them.