ExportExport

Using documentary credits when you export goods or services means that the importer's bank commits itself to paying you when the conditions of the credit have been met. This offers a number of advantages:

 

  • Payment guaranteed by the importer's bank prior to shipment
  • Enhanced security of payment at the agreed time
  • Enhanced security that the order received will not be cancelled or changed without your agreement
  • Improved liquidity as payment often can be made shortly after shipment
  • Possibility of extending security to subcontractors through the documentary credit
  • The possibility of financing

It is important to note that the importer's bank will make payment only after you have complied with all its requirements and conditions. You should therefore examine the documentary credit carefully when you receive it.

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Danske Bank A/S
London Branch,
75 King William Street
London EC4N 7DT
United Kingdom

Tel: +44 (0)20 7410 8000
Fax: +44 (0)20 7410 8001

SWIFT/BIC: DABAGB2L
Sort Code: 30-12-81

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If you wish to conduct trade using documentary credits, we recommend that you specify clearly in your offer material which documentary credit conditions you can accept and comply with. Here is guide to the key terms to specify.

Within ... days from the date of ..., please arrange for the issue by a first class bank of an irrevocable documentary credit to be advised by swift through Danske Bank, Copenhagen, Denmark, SWIFT DABADKKK

In our favour
In favour of seller/exporter/beneficiary

With or without Danske Bank's confirmation
We recommend an evaluation of the issuing bank as well as the country it is situated in, with respect to commercial and political risks.

For the amount of
Up to an amount of - maximum/about/exactly

Available for payment at sight or for payment ... days after shipment
Payable at sight (cash) or .....days after shipment (deferred payment)

Following documents
The documents required under the documentary credit, for example invoice or transport document

Covering
A description of goods, as brief as possible, with reference to order or the like

Evidencing shipment from ... to ...
Shipment from Europe/European port to - place of receipt/port

Terms of delivery 
Conditions for the delivery, for example FOB, CFR, CIF, FCA

Partial delivery
Allowed/not allowed

Transhipment
Allowed/not allowed

Latest date of shipment
If nothing is shown here, the latest date of shipment is the expiry date of the documentary credit

The Credit to be valid until
Expiry date of documentary credit

The documents to be presented not later than
If nothing is shown here, the deadline for presentation is 21 days after shipment, but not later than the expiry date of the documentary credit

Charges outside country of issuance
Paid by buyer/seller

The documentary credit must include the issuing bank's debit or reimbursement authorisation and must state that the credit is subject to Uniform Customs and Practice for Documentary Credits, ICC Publication No. 600.

Want to know more?Want to know more?

Trade & Export Finance products and services

Read More about our trade & export finance products and services in these booklets (PDF):

Download factsheet on Documentary Credits
Download factsheet on Int'l Guarantees
Download factsheet on Collections
Download factsheet on Business Online

To read PDF documents, download Adobe Reader®

Document Checklist
What to look out for in every document involved in the documentary credit process:

Danske Bank A/S, London Branch, 75 King William Street, London EC4N 7DT, United Kingdom. Telephone: +44 (0)20 7410 8000 Facsimile: +44 (0)20 7410 8001 E-mail: london.info@uk.danskebank.com. VAT number: 853 7590 92. Danske Bank A/S, London Branch is authorised by the Danish Financial Supervisory Authority (Finanstilsynet) and is subject to limited regulation by the the Financial Conduct Authority and the Prudential Regulation Authority. Complaints should be addressed to our Legal Department. Details on the extent of our regulation by the Financial Conduct Authority and the Prudential Regulation Authority are available from us on request. Registered Branch in England and Wales, Company No. FC011846, Branch No. BR000080. Danske Bank A/S, Incorporated in Denmark, CVR No. 61 12 62 28 Copenhagen. Our details can also be viewed on The Financial Services Register under Firm Reference Number 124655.

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