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Letters of Credit

Import Letter of Credit

U.S. Century Bank can help you structure your Import Letters of Credit with the least risk possible, recommending terms that are favorable to both you and your suppliers, ultimately facilitating documentary compliance by the exporter. A letter of credit may be instrumental in ensuring that goods are shipped in accordance with you instructions prior to your release of payment.

Steamship Guarantee

A Steamship Guarantee allows you to take delivery of your goods even though you have not yet received the bills of lading under a letter of credit. U.S. Century Bank can issue the guarantee, enabling you to receive goods without the title documents.

Export Letter of Credit

U.S. Century Bank can provide the expertise to help you structure your letter of credit to meet your export requirements.  When selling oversees, you want to have an assurance of payment before you and receive payment as quickly as possible.  We can also confirm letter of credit when the issuing bank is a lesser-known entity or you wish to avoid foreign country risk.

Standby Letter of Credit

With a standby letter of credit you have an alternative to assure fulfillment of contract terms.  This is often used in lieu of Performance of Bid Bonds for International or Domestic transactions. This document provides your trading partners the assurance that your company will fulfill the terms of the contract by providing U.S. Century Bank as the credit support in lieu of yours, when your own credit may not be known or readily accepted.

Transferable Letter of Credit

A broker or an intermediary may receive a letter of credit from the buyer and wish to transfer the letter of credit in favor of the producer of goods.  This transferable letter of credit allows the beneficiary to fully or partially transfer the letter of credit to one or more separate parties.  The transferee (second beneficiary) would have control over his shipment and payment upon complying with terms and conditions.  This product can provide you a risk-free solution as well as the capability to resell goods without using your source of funds or credit.

Assignment of Proceed

An assignment of proceed can provide you a risk-free solution as well as capacity of resell goods without using your source of fund or credit.  If you are a broker or intermediary, you can assign the proceeds of a letter of credit in favor of the producer of goods.  The beneficiary can assign proceeds fully of partially to one or more separate parties.  You as the beneficiary will have full control over the shipment and payment upon complying with he terms and conditions.

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