Letter of Credit (L/C) Opening service is offered to importers purchasing goods, raw materials or machinery from abroad under L/C payment term. After L/C is opened, EXIM Thailand makes payment on behalf of importers according to the L/C payment term specified (at sight or terms), provided that the documents received are correct and complete in accordance with L/C conditions.
1. Importer contacts the Bank for L/C credit line approval. The line of credit is divided into temporary and permanent.
2. When credit line is approved, importer can apply for L/C opening by submitting the following documents:
- Application for Issuing a Documentary Credit
- Other sales documents such as contract, pro-forma invoice, purchase order, etc.
3. The Bank examines L/C request and opens L/C.
4. A copy of L/C is sent to importer.