Start with the commercial agreement
A documentary credit should reflect the underlying transaction. Confirm the buyer and seller identities, goods description, amount, currency, shipment timetable and documentary requirements before requesting a draft.
Make the presentation workable
Exporters should assess whether each required document can be obtained in the correct form within the agreed timetable. Differences between the contract, credit and shipping documentation can introduce avoidable friction.
Prepare your transaction
Collect the contract, corporate documents, proposed banking details and requested wording. ECB can then assess the transaction and discuss the proposed structure, subject to compliance and approval.
ECB business perspective • General information for business planning. Transaction-specific terms and advice should be assessed for your circumstances.
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