Issued by an overseas bank on behalf of its customer, the Export L/C minimizes your risk of non-payment by foreign buyers. Your presentment to Sovereign Bank of conforming documents ensures that you receive payment as quickly as possible, and that you are protected against losing title of merchandise before payment is received.
- Gives you the ability to sell in new markets and to new customers
- Governed by internationally-accepted rules
- Can be confirmed by Sovereign Bank, thus eliminating foreign risk completely