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For What Matters

CIBC FirstCaribbean Letters of Credit

Key Benefits
  • To the Importer:
    • Able to control terms and reduce risk
    • Can predict cash flow and price goods accurately
    • Can negotiate for better terms
    • Can obtain extended credit by having tenor LCs
  • To the Exporter:
    • Payment assured without affecting own bank limits
    • Enhanced competitiveness
    • Predicted cash flow
    • Exporter may save costs of other credit insurance
    • Access to local help and advice
    • Country risk eliminated by an accepting bank in exporter's country

 

Important Features
  • LC issued by importer's bank
  • Credit terms and currency of payment may be negotiated
  • Credit may be confirmed by a bank in the exporter's country
  • Known payment date and revenue
  • LC can provide for payment at sight or tenor (deferred payment, say 30, 60, 90 or more)
  • Customer instructs own bank to issue LC and also to specify terms
  • Credit terms, price and currency of payment may be negotiable

 

Product features vary by location. Please contact your local branch for further details.

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Contact Us

Call a Business Banking Relationship Manager at any of our CIBC FirstCaribbean Locations to find out more about our business banking products and services.

Getting Started

FAQs - Becoming a CIBC FirstCaribbean Business Banking customer.PDF

Schedule of Charges

View details on CIBC FirstCaribbean's Schedule of Charges.