Export Letters of Credit  

An Export Letter of Credit is a payment instrument received by an exporter/seller/beneficiary through a confirming/advising bank, with the commitment to honor payment in its favor, in exchange for the presentation of documents corresponding to the sale of goods or provision of services. These documents must comply strictly with the terms and conditions stipulated in the Letter of Credit issued by the issuing bank acting on behalf of an importer/buyer/applicant.

Designed for

Mexican export firms.

Benefits

  • Offers assurance to the export firm that it will receive payment for merchandise sold.
  • Offers certainty to the export firm regarding the necessary terms and conditions for obtaining payment.
  • Reduces the need for Mexican exporters to verify buyers’ credit records, since the obligation for payment is assumed by banks.
  • Export firm may contract online “B@ncomext Trade” Letters of Credit service, to receive Letters of Credit in its favor, received by Bancomext.

Requirements

  • The exporter/seller/beneficiary must ask the applicant/buyer/importer for the Letter of Credit to be sent by the foreign bank directly to Bancomext, indicating whether the Letter of Credit is advised or confirmed.
  • Payment to these firms is made punctually, as soon as the required documents are presented in accordance with the terms and conditions established in the Letter of Credit.
  • The exporter/seller/beneficiary must present Bancomext with the required legal documents for its correct identification (only for the first operation).
  • Payment of the corresponding commissions.

Contact

Apply for a Letter of Credit at: cartasdecredito@bancomext.gob.mx.