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Commercial letters of credit

Secure your international transactions with Monex's Commercial Letter of Credit

Commercial Letter of Credit

A Commercial Letter of Credit is your ally in the world of international trade, as it represents a secure and efficient transaction by acting as a written commitment from the issuing bank to pay the seller according to the buyer's instructions. Designed for both importers and exporters, this tool facilitates the payment process and reduces risks. Furthermore, at Monex, we offer you the express alternative by issuing a Commercial Letter of Credit in just 24 hours, backed by a team of experts in foreign trade.

Classification of Commercial Letters of Credit

At Monex, we offer two types of Commercial Letters of Credit to meet your needs for both domestic and international trade.

International Commercial Letters of Credit

These are for export and import operations with business partners in other countries. They allow secure transactions for buyers and sellers. They are issued in dollars or in other international currencies

Domestic Commercial Letters of Credit

These apply to commercial transactions within Mexico between domestic buyers and sellers. They have the same characteristics as international letters of credit but for the local market, in Mexican pesos or in other international currencies

Benefits that improve your commercial experience

Guaranteed payment: It ensures payment to the exporter upon shipment with the correct documents.
Expedited financing: It provides refinancing in just 48 hours, allowing the exporters to offer payments in installments to their customers without affecting their cash flow.
Attractive commissions: It offers the most competitive rates and commissions in the market, backed by the quality and reliability of our personalized service.
Specialized consultancy: It eliminates risks with expert advice from our team, facilitating the successful handling of each transaction.
Flow optimization: It offers refinancing so importers can optimize their operating cycle.
International recognition: It reduces risks in international transactions because the Commercial Letters of Credit are regulated by the International Chamber of Commerce (ICC).

Features that will leverage your transactions in foreign trade

International versatility: They can be issued for importing or exporting goods.
Financing options: Possible financing in different ways, either by granting installments to the buyer with bill of exchange discounts or immediate refinancing through the issuing bank.
Different currencies: They are mainly issued in US dollars, but at Monex, we offer the flexibility to issue in other currencies according to your needs.
Exceptional speed: We offer an Express Commercial Letter of Credit, which is issued in just 24 hours after the provision of the amount thereof.
Irrevocable credit: It cannot be revoked or modified unless the parties involved in the operation agree to do so.

Features that will leverage your transactions in foreign trade

Present the financial statements of the last 3 fiscal years, duly audited.
Provide internal financial statements, dated within the last 3 months.

Include legal documents such as minutes, powers of attorney, identifications, among others, to support the operation.

Integrate and sign the credit application provided by Monex.

Include qualitative details of the company, such as the resumé, presentation, etc.

Specify the conditions of the required Commercial Letter of Credit, such as type, amount, currency, and whether it is for import, export, domestic use, term, among others.

In the case of exports, provide information from the issuing bank, product details, and determine whether the Commercial Letter of Credit will be confirmed or only notified, as well as the payment terms.
In the case of imports or domestic letters, complete the application for the Commercial Letter of Credit with the required information.
For the Express Commercial Letter of Credit, in addition to the above, allocate the necessary amount to expedite the process.

At Monex, we understand the complexities of foreign trade. Trust our expertise and ensure the success of your transactions