Letters of Credit

A guarantee for your international operations.

  • 2 Make sure that the conditions are satisfied.
  • 2 Benefit from BBVA's international presence.
  • 2 Count on our experience and specialization.

It's safer, whether you are an exporter or an importer

  • Advantages for the exporter
    If you make a sale using a letter of credit, you are guaranteed to collect on the invoice if you comply with the conditions and terms specified.
  • Advantages for the importer
    When you make a purchase using a letter of credit, you are making sure that the conditions and timelines you have agreed to and that are contained in the documentation are satisfied.

How it works

  • 01. Negotiation and agreement
    The buyer and seller negotiate to reach an agreement and establish clauses for the transaction.
  • 02. Opening
    The letter of credit is opened, including the terms and conditions agreed in the documentation.
  • 03. Processing and tracking
    The buyer's and seller's banks act as intermediaries: they process the documents and review them to identify possible discrepancies (differences from the agreed terms).

You will know how the transaction is going

  • You can follow up online
    If you set up notifications, you will receive alerts so you can stay informed at all times. Plus, with online banking for businesses, it's possible to upload documentation or, even, request opening of a letter of credit.

How much a letter of credit costs

  • The price is customized
    When you are going to take out a letter of credit to carry out an international transaction, an adviser will analyze your case and your needs and will offer you a price.
BBVA is present in the world's major markets.

A personal adviser at your side

  • Specialists to answer your questions

    Your personal international trade adviser will answer any questions you have about letters of credit.

    Find out more

Some questions that may come up

Tools for your international business

  • Barriers to market access

    We show you which access barriers you will find in the markets and what requirements you must meet to enter them.
  • Help on Incoterms

    Find out which Incoterms are best suited to the import or export transaction you are pursuing.

Other products that might be of interest to you

See more international business information

Be a BBVA customer.

  • We work to ensure that borders don't hinder your business.
  • We believe in a way of banking that focuses on people: bancaresponsable.com.
Letters of Credit More information