Manage the flow of goods with the terms and conditions of the documentary credit
A documentary credit is an excellent method of payment when a foreign seller requires collateral before manufacturing begins or needs financing for the production. In some countries the seller can pledge the documentary credit to acquire raw material.
As the buyer you give Nordea instructions on opening a documentary credit. When Nordea opens a documentary credit, it undertakes to pay the seller provided that the terms and conditions of the documentary credit are fulfilled. The terms and conditions will be determined on the basis of the trade agreement you have concluded with the seller.
Via Trade Finance Global you can send Nordea documentary credit instructions electronically and receive information on your import documentary credits.