Flexible funding and expertise to help bring your trading plans to life
Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only.
Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
Letters of credit
Reduce trade risk. Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
Import Letters of Credit are subject to credit approval.
When importing and exporting a Documentary Letter of Credit (LC) is one of the most secure methods of settlement. They are irrevocable and cannot be cancelled unless all parties agree
Import Letter of Credit:
- Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
- Import Letters of Credit are a conditional bank guarantee of payment
- Payment is made upon Ulster Bank's receipt of the financial and commercial documentation (Bills of Lading, Invoices, Packing list etc) subject to the terms and conditions of the LC having been met.
Export Letter of Credit:
- A conditional bank guarantee of payment received on your behalf from another bank.
- If you are the seller, it guarantees receipt of payment by the buyers’ bank upon representation of the financial and commercial documentation (as above) subject to the terms and conditions of the LC being met.
4 reasons to choose Ulster
MaxTrad
Our secure online platform lets you manage your international trade transactions from anywhere, 24 hours a day.
Trade Finance
Get in touch with our International Banking team who are waiting to hear from you and will ensure that we get the right person to contact you.