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A Letter of Credit is a written commitment to pay - by a buyer's or importer's bank (called the issuing bank) to the seller's or exporter's bank (called the accepting bank, negotiating bank, or paying bank).
A letter of credit provides guaranteed payment of a specified sum in a specified currency to the exporter, provided the seller meets precisely defined conditions and submits the prescribed documents within a fixed timeframe, offering flexibility and better management of cash flows for the SMEs.
LCs issued by a foreign bank (importer's bank) through SWIFT are authenticated by HDFC Bank Ltd. and advised to the beneficiary. We can support your needs with our wide network of correspondent bank arrangements.
Letter of Credit (L/C) confirmation provides a guarantee of payment to the exporter provided that all terms and conditions of an L/C (issued by another bank) are complied with. HDFC Bank can add confirmation to LCs issued by foreign Banks and give a definite undertaking of payment of LC.
We offer all types of LC services. Click here to locate our nearest branch to your location and apply for our LC services as per your business need.
