Can I pay with a letter of credit (L/C)?

Yes, we accept a confirmed irrevocable L/C as payment. Your bank will transfer the amount when we can prove that the vehicles you have purchased have been shipped. This method offers you even greater security.

What is a letter of credit? (LC)

The simple explanation is that a letter of credit is a promise to pay. A bank issues letters of credit as a way to ensure sellers that they will get paid as long as they do what they've agreed to do.

Why do you chose  Letter of Credit as a payment method?

The use of a letter of credit gives you certain advantages:
  1. Assurance that goods will be delivered when payment will be done and vice versa.
  2. Assurance that no payment will be made until the required documents are checked and agreed.
  3. The opportunity to have extended or stretched out payment terms and interest that match accordingly.
  4. The opportunity to have an arrangement in which a debt does not have to be repaid until sometime in the future. This is called deferred payment.

Which parties are all involved in the L / C.

  1. The applicant: The person who opens the credit. In this case, you, the buyer of a vehicle.
  2. The Issuing bank: The bank where the credit is opened and that promises to pay.
  3. The beneficiary: The seller or ultimate recipient of funds.  In this case, us, where you buy the vehicle.
  4. The confirming and advising bank : The Rabobank, that checks and uses the letter of credit.
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