Download the BBVA app
Download the BBVA app
You can do it all on your mobile, or try some features if you are not a customer.
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Download the BBVA app
Download the BBVA app
You can do it all on your mobile, or try some features if you are not a customer.
Download
Download the BBVA app
Download the BBVA app
You can do it all on your mobile, or try some features if you are not a customer.
Download
Download the BBVA app
Download the BBVA app
You can do it all on your mobile, or try some features if you are not a customer.
Download
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      Letters of Credit

      A guarantee for your international operations.

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

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

      • Advantages for exporters
        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 importers
        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 bank and the seller's bank mediate: 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 advisory team 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
        Our team of specialists in trade finance will make your international transactions easier. Your adviser will help whenever you have questions on financing imports.
        Count on our experience

        You will have a specialized personal adviser at your disposal. You can rely on your adviser to answer questions about your international activity and thus minimize any potential risks.

        • No added cost.
        • Get the information when you need it.
         
        Request information

      Are you interested?

      You can request more information on letters of credit by sending in a form, and we will contact you as soon as possible.

      Request information

      Some questions that may come up

      The variants arise from the following aspects:

      • If a confirming entity exists or not: in confirmed credits there is a dual guarantee: the commitment of the issuing bank and the additional guarantee of the confirming bank.
      • Whether the letter of credit is transferable or not.

      If you are an importer, the bank will review the documentation and inform you of the variation; if you accept it, the payment will be made. 

      If you are an exporter, the bank will review the documentation and inform you of the variation; if you accept it, the collection will be processed.

      To issue a letter of credit, you must have an account with BBVA and receive approval from the bank. However, to collect using a letter of credit, the above is not necessary.

      Other products that might be of interest to you

      • Financing of imports

        A credit limit to finance payments to your international suppliers.
        More information
      • Export advances

        A credit limit to get an advance on your invoices to international customers. The difference with factoring is that the bank does not cover the risk of insolvency.
        More information
      See more trade finance

      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
      Offer valid during current month
      1. Trade finance
      2. Letters of credit
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