Letter of credit
It is a document that ensures payment of exporters and any importers that form part of the export chain. The letter of credit confirms compliance with the terms and conditions referred to shipment of commodities.
The internationally substantiated document affords:
- Secured payment to exporters and importers
- Payment through a world bank
- Guarantee of commodity delivery
- Opportunities to negotiate terms and prices
Revolving credit – Bill discount
Venezuelan businesses may get access to revolving credits via bill discount. Under this facility, export invoices are good to use the approved amount in whole or in part, as loan agreement for procurement of raw materials, inputs or fixed assets.
Revolving credit via bill discount allows:
- Getting liquidity at very short term
- Using the obtained foreign currency to pay foreign providers
- Using the credit line up to 180 days
Credit for foreign buyers
Funding of foreign buyers of Venezuelan goods through letters of credit or credit lines.
- Ensures immediate payment to Venezuelan exporters
- Prevent the risk of credit
- Offers better export prices