A letter issued between banks as guarantee of payment, assisting with import of equipment from overseas, by giving assurance of payment to the supplier of goods.
Buying a machine or equipment from overseas? A Letter of Credit will extend a guarantee of payment to the seller’s bank and on delivery to your premises, will be converted to a Lease or Chattel Mortgage.
Usually for purchases of $100,000 or more
australiawide FINANCE has the contacts and experience to smooth your overseas purchase
