Import documentary credits

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Foreign Trade Customer Service Line

If you have any questions, call...

901 101 154

Monday to Friday, between 8am and 3pm.

A documentary or letter of credit is issued following the instructions of the importer. It is a method of payment that guarantees payment to the supplier provided they present the right documentation within the stipulated timeframe.

Once you have a Foreign Trade Facility in place, you can issue import documentary credits as and when you need them.

We understand the importance of speed and agility when issuing documentary credits. For that reason, we have a team of Foreign Trade experts on hand to advise you.

What are the advantages for the importer?

  • They will not have to make payment until the correct commercial documents are received in accordance with the conditions of the documentary credit. Hence, if the relevant documents have been requested as agreed in the contract, the goods received will be as expected.
  • Given that, in order to issue a documentary credit, you must have a Foreign Trade Facility in place, your supplier will know that your business has sufficient guarantees for your bank to have approved this risk facility.
  • It allows importers to defer payment, since the vendor is guaranteed to collect payment, regardless of whether on the payment due date the importer also arranges Finance with us.


  • All documentary or letters of credit should comply with the Uniform Customs and Practices for Documentary Credits drafted by the International Chamber of Commerce: UCP 600, 2007 revision. These are internationally accepted rules and you should get to know them.
  • Banks do not inspect goods. They have an obligation to pay once they receive the correct documents. Therefore, it is very important to request the documents required to guarantee that the goods received are as expected: certificates of origin, quality, phytosanitary,...
  • It is a method of payment that can also be used within the domestic market
  • Import Documentary Credits can be issued via Online Banking by entering the "International/Foreign Trade/ Documentary Credits" section. This will facilitate the issue, saving time and administrative tasks and avoiding mistakes as you record the entire operation.