Bank of China (Canada) (BOCC) L/C Confirmations
Trade Finance
Description:
Other than the issuing bank of an L/C, Bank of China (Canada) may add its confirmation to a L/C, thereby adding an independent payment obligation.
Comments on Funding:
Export payment security is enhanced through Confirmation of Letters of Credit (L/Cs).
Continuous Intake
Eligibility:
This product is beneficial to the following:
1. Exporters who wish to obtain a payment obligation from a bank other than the issuing bank.
2. Exporters who wish to ensure receipt of funds after presentation of documents even if the issuing bank has a good credit standing.
Application Steps:
For inquiries, applicants must call BOCC’s service hotline: 1-844-669-5566.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
