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Wholesale Banking
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To overview

Documentary credits (letters of credit)

Enhance your international trade capabilities with ING’s documentary credits (letters of credit). This structured and secure financing solution minimises the risks of non-payment, substandard goods, and disputes over product quality. Perfect for new trade relationships, high-value transactions, and bespoke projects, documentary credits help bridge the working capital gap and improve cash flow. With our expertise, you can navigate the complexities of global trade with confidence, ensuring timely payments and successful outcomes.

Minimise risks associated with non-payment, substandard goods, and disputes over product quality

Adapt your financing to suit new trade relationships and high-value transactions while enhancing cash flow

Under the rules of the International Chamber of Commerce (ICC), providing a structured and secure environment for your trade.

Maximise your trade potential with documentary credits

Better cash flow

Improve your cash flow by ensuring payment is made only after goods have been shipped, allowing you to maintain liquidity and invest in your business operations.

Hand pointing calender payment spot

  • Flexibility and efficiency

    Negotiate longer credit terms with sellers, giving you the flexibility to manage payments effectively while maximising your financial resources.

  • Discretion and smooth operation

    Conduct transactions without debtor notification (where local jurisdictions allow), maintaining discretion and fostering smoother operations.

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    Our simplified process makes the LC seamless

  • Application process

    The buyer initiates the process by applying for a Letter of Credit (LC), either by completing an application form or electronically via InsideBusiness Trade. Once credit approval is granted, the bank issues the LC in favour of the seller.

  • Immediate payment at sight

    Upon presentation of documents that meet the terms and conditions of the LC, the seller receives payment. The buyer then pays their bank upon receiving the documents, ensuring a secure transaction.

  • Deferred payment options

    For sellers offering extended payment terms, a deferred payment or usance LC allows them to receive payment at the end of the credit period, providing flexibility for both parties in managing cash flow.

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    Elevate your international trade with ING

    Experience the security and efficiency of our documentary credits to streamline your trade transactions and mitigate risks. Discover how ING can empower your business to engage confidently in global trade and maximise your cash flow.

     

    Contact your ING representative to know more. 

    Why partner with us

    Our purpose is to empower people to stay a step ahead in life and in business. So whatever your financial needs, whether you are looking to expand and want strategic advice, or just want to make your day-to-day banking more efficient, we are here to support your business ambitions.

    • Serving corporate clients and financial institutions in over 35 countries.
    • We pair local and global insight with sector knowledge with financial expertise.
    • We are ranked as a leader in sustainability and we are included in the FTSE4Good Index.
    • Euromoney

      Best bank for sustainable finance in Central & Eastern Europe

      2024
    • The Digital Banker

      Highly acclaimed best wholesale bank for sustainable finance in Europe

      2024
    • Global Finance

      Best bank for cash management in Central & Eastern Europe and Western Europe

      2024