The documentary credit processThe documentary credit process

The process of a documentary credit

  1. The contract is made between the importer and the exporter.
  2. The importer asks its bank to issue a documentary credit to the exporter.
  3. The importer's bank sends the documentary credit to the exporter's bank (advising bank).
  4. The exporter's bank advises the exporter of the issue of the documentary credit.
  5. After dispatch of the goods, the exporter delivers the required documents to its bank. The documents are examined against the terms and conditions stipulated in the documentary credit. If the requirements have been complied with, the exporter will be able to obtain payment.
  6. The exporter's bank sends the documents to the importer's bank and receives payment either at sight or term.
  7. The importer's bank delivers the documents to the importer upon reimbursement, after which the goods may be handed over.

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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: 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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