Import documentary credit

An import documentary credit is an excellent method of payment when the seller requires collateral before manufacturing begins or needs financing for the production.

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.

Your benefits

  • You can easily get a longer term of payment by offering an import documentary credit as the method of payment.
  • As the buyer you can make sure that the goods have been shipped before you have to pay.
  • The ICC Uniform Customs and Practice for Documentary Credits add security to your trading.

Application

As the buyer you give Nordea instructions on opening a documentary credit. You can fill in an application for an import documentary credit and print it out via the link on the right. An import documentary credit always requires a credit decision so you should send the application to your home branch. The form must be filled in completely including a description of the goods.

You can also apply for an import documentary credit electronically via Nordea's Trade Finance Global.

Application for an import documentary credit (pdf, 600 KB)Opens new window

Amendment of an import documentary credit (pdf, 561 KB)Opens new window

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