Stand-by letters of credits

Secure foreign trade transactions

  • Certainty of payment of suppliers and guarantee of contractual obligations.
  • Autonomy from the underlying commercial transaction.

A stand-by letter of credit is a payment instrument whose primary function is that of a guarantee. The beneficiary of a stand-by letter of credit submits the required documents only if he has not received the payment from the ordering party by the date set in the underlying commercial/financial contract.

This instrument:

  • guarantees the beneficiary that the payment will be settled, according to the required terms, against presentation of  the documents in compliance with  the stand-by l/c credit ;
  • guarantees the ordering party  (applicant) that the payment to the beneficiary will be made only upon the presentation of documents in compliance with  the terms and conditions set out in the credit;
  • can be used both for the supply of goods and for other purposes (e.g., for turn-key delivery of entire plants).

Inbiz, the Corporate Internet Banking platform of Gruppo Intesa Sanpaolo, allows  business companies  to simplify  the management and monitoring of complex transactions by communicating with the bank in every operating step of the stand-by l/c in case of  :

  • request for issuing (digital signature of the contracts, both in case of issuing and in case of amendment,  drawing  and acceptance of documents, discharge etc ) and
  • export documentary credits to be received – - (pre-advice, notification,  drawing,  amendments etc);
  • consulting the reports on existing transactions in real time;
  • cutting processing time;
  • allowing several users to use the application with different levels of personalised access and operations.

 



Advertising message. For details of the contractual terms of Inbiz and related products and services offered in Italy, please refer to the Fact Sheets available at the Branches and on the internet sites of the Intesa Sanpaolo Group Banks that offer Inbiz. In some countries, the products and services described herein may not yet be available or may be subject to restrictions or changes due to local law.

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