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Letters of Credit

An increase in trade facilitation among many different countries has allowed the U.S. to expand its business transactions with other countries and vice-versa. At IBC Bank, we help you facilitate your engagements in trade by offering Letters of Credit (L/C). Whether you are doing business with a foreign or domestic company, Letters of Credit are one of the most important and secure financial tools available for your trade. Most importantly, a Letter of Credit helps reduce the risk of your trade transactions with foreign individuals or corporations.

At IBC Bank, we have a variety of Letters of Credit to suit your needs:

Import or Domestic Letters of Credit - guarantee payment to a domestic or foreign supplier on behalf of the importer. Using this type of instrument transfers the financial obligation from the customer to the bank.
Export Letters of Credit - facilitate international trade for the exporter by offering them a high level of security by stating that they will be paid for their goods or services. This helps the exporter expand their business opportunities internationally while minimizing risk.
Standby Letters of Credit - issued on behalf of a customer to facilitate engagement in contracts with other individuals. IBC Bank provides assurance that the customer will fulfill the terms of a contract with the beneficiary. A Standby Letter of Credit is also commonly used to support the credit worthiness of a customer.

In addition to our Letters of Credit we also offer Documentary Collections. At IBC Bank, we will act as an intermediary to collect payments in exchange for the transfer of documents that give title of possession of goods. This is an alternative to a Letter of Credit.

In order to qualify for Letter of Credit services, you must be an IBC deposit or loan account holder.

If you would like to download a Letter of Credit application, please click on the corresponding link below:

For more information, please contact IBC Bank's Letters of Credit Department by visiting the nearest IBC Branch or calling (956) 722-7611 extension 26234 or 26520 and/or by email at lcdepartment@ibc.com.

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