Other Services
Letters of Credit
A letter of credit is a financial instrument generally used to facilitate the payment of goods/services. It is important to note that payment is made only against presentation of specific documents, which strictly conform to the terms and conditions of the letter of credit.
Our bank offers two types of letters of credit:
Standby Letter of Credit - an assurance of payment to the beneficiary. If the applicant breaches the contract, Falcon International Bank will pay the beneficiary on the letter of credit upon receipt of documentation and strict compliance.
Commercial Letter of Credit - are mainly used by commercial customers to finance shipment of goods. It assures the seller of prompt payment and the buyer of proper receipt of merchandise through the presentation of specified documentation.
For more information please call 956-796-1785.
A letter of credit is a financial instrument generally used to facilitate the payment of goods/services. It is important to note that payment is made only against presentation of specific documents, which strictly conform to the terms and conditions of the letter of credit.
Our bank offers two types of letters of credit:
Standby Letter of Credit - an assurance of payment to the beneficiary. If the applicant breaches the contract, Falcon International Bank will pay the beneficiary on the letter of credit upon receipt of documentation and strict compliance.
Commercial Letter of Credit - are mainly used by commercial customers to finance shipment of goods. It assures the seller of prompt payment and the buyer of proper receipt of merchandise through the presentation of specified documentation.
For more information please call 956-796-1785.
