Whether you’re traveling or sending money overseas, the Belize Bank with its worldwide foreign exchange network has the solutions to meet your needs.
Letters of Credit
Commercial Import Letters of Credit
The timely receipt of imported goods is essential to your business.
Belize Bank’s Import Letter of Credit assures that you only pay for merchandise when the supplier meets the terms of the sales agreement. An Import Letter of Credit helps to:
- Increase the likelihood that you’ll receive the correct quantity of the right product at the right location
- Increase the probability of timely receipt and/or delivery of the product
Commercial Export Letters of Credit
If you’re an exporter, one of the issues you’ll need to consider is how to collect in full and on time payments from a buyer.
An Export Letter of Credit from the Belize Bank increases the possibility that you will receive payment in accordance with the terms of your sales agreement. Use an Export Letter of Credit to:
- Receive conditional assurance of prompt payment for shipped goods
- Receive conditional protection against the buyers rejection of the merchandise
Standby Letters of Credit
As a business owner you’ll find that there are times when your suppliers require more than your good name to ensure payment to them.
A Standby Letter of Credit from the Belize Bank assures your suppliers that you will fulfill the terms of your contract or agreement. Large and small companies across many industries use Standby Letters of Credit to:
- Increase the possibility of timely payment in trade transactions
- Increase the likelihood that incremental payments will continue during a project or transaction.
The Belize Bank offers import and export collection services.
Import collection is a simpler alternative to Letters of Credit. We inform you immediately when suppliers send documents through their bank. These documents are then released to you when your supplier’s payment terms are fulfilled.
With our export bills for collection service, you simply present your documents to us and we will send them to the purchaser’s bank. Documents will be released to the buyer upon payment or acceptance.
If your customers are concerned about performance we can issue different types of Guarantees or Bonds to suit your needs. We offer bid, performance, and advance payment bonds.
The Belize Bank offers international wire transfers to any location throughout the world via a secure SWIFT system.