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Opportunities for your company in the international business environment are greater now than ever before, and so are the risks. An experienced partner like First Bank will help you understand the right approach for your business and help you meet your specific business needs.
Export Letters of Credit
First Bank provides an exporting client with fast and efficient processing of documents to facilitate the collection of your receivables. We handle the advising and/or the negotiation of the export letters of credit.
Transferable Letters of Credit
For an export letter of credit, First Bank is authorized to transfer the Letter of Credit for a client to a second beneficiary. First Bank will advise the client (first beneficiary) on the best approach and execute the process.
Import Letters Of Credit
First Bank provides an importing client with fast and efficient processing of import letters of credit to ensure there are no delays in the manufacturing and shipping of merchandise. We will notify a client as soon as a document is received, so the client does not have to pay any demurrage charges or experience any delays in picking up their merchandise.
First Bank will accept drafts drawn on First Bank in accordance with the letters of credit terms and will monitor maturity dates and notify a client as needed.
Standby Letters of Credit Transactions
Standby letters of credit include both financial risk or service performance. Depending on what kind of Standby Letter of Credit is required the following documents could be presented:
This shifts the risk from the issuing bank to the confirming bank. Usually confirmations are required when the beneficiaries are insurance companies or banks.
Incoming and Outgoing Documentary Collections are done based on the mutual trust between the buyers and the sellers. We offer two Documentary Collections options:
1. Incoming Documentary Collections
2. Outgoing Documentary Collections
800-242-3455, Option 5
800-242-3455, Option 5
Commercial Relationship Manager