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We can hold your payment for goods that you're importing until your supplier sends us documents proving they've shipped the goods.
Minimises the risk of paying offshore suppliers before delivery.
You can be more confident that you'll get what you ordered.
We guarantee payment.
Your supplier knows they're going to get paid for what they ship.
An import letter of credit is issued by Kiwibank on your behalf. It's a guarantee that we'll pay your supplier for their goods once they send us shipping documents proving that they've shipped the goods. It's issued to your supplier's bank electronically.
An import letter of credit is binding. We're committed to making the payment on an agreed date once we receive the documents.
Shipping documents could be:
When you organise your import letter of credit, you'll have to satisfy our lending criteria and we'll give you a facility limit. You can then arrange future letters of credit to this limit.
Costs will vary, so please talk to our business banking team for pricing information.
To find out more about import letters of credit and for pricing information, get in touch with our business banking team.
Find a business banking specialist in your area. Request a call back, or call them directly.
Find a business bankerCall our business banking team on 0800 601 601, or +64 4 803 1646 if you’re calling from overseas.