Import documentary credit

Import documentary credit is commonly used in Far East trading, in purchasing goods made to order and especially when trading with new business partners. In a documentary credit the seller receives confirmation of getting payment before the goods are delivered.

At your application Nordea opens an import documentary credit, the terms of which you have determined on the basis of your sales agreement. The seller receives payment after fulfilling the terms and conditions of the documentary credit.

To make import documentary credit applications and amendments to documentary credits you can also use the Trade Finance Net Services

Documentary credits are suited for both at sight payments and deferred payment trading. Foreign exchange credits can also be linked to documentary credits. When you use an at sight documentary credit as a means of payment you may request a cash discount.

When you want to pay your foreign trade with a documentary credit, contact one of our branches. Further information is available at the Trade Finance Unit.