Import letter of guarantee is a banker’s guarantee that payment will be made on presentation of all the required documents within the time limit.
Advantage：
1. This product can improve your bargaining position. That’s because letter of credit issued is equal to an additional promise to pay with strings attached which enhances the credit of the imports and helps them get much more favorable payment terms.
2. This product can guarantee the safety of your goods because with the involvement of banks and commercial credit turning into bank credit, the trade becomes more reliable. What’s more, the ownership of cargo, quality of goods and shipment date are under control.
3.This product can reduce the taking up of capital because for importer using credit payment ,there is no need for him to pay in full price while only part of deposits is needed.
