Crédito Documentario de Importación

  • Is the safest means of payment for buyer and salesman

    It entails an irrevocable commitment by the bank that issues it

  • It allows you to prove your solvency to your supplier. It provides you with legal protection. It allows you to obtain financing from your supplier.

A documentary letter of credit is the payment method chosen when there is little trust between the parties or when a collection guarantee is required to be provided in the operation, in order to access other products and/or services (for example, financing).

This is the most secure payment method for buyer and seller because it represents an irrevocable commitment by the bank that issues it (the importer's bank).

This commitment is on the condition that the payee of the credit (exporter) presents the required documents in the documentary letter of credit itself, in the established format and time frame, that is, that it complies with its commercial obligations.

As an importer, you have give instructions to Bankia so that it issues a credit that it reflects the trade agreements to those which have arrived with your supplier.

You should indicate, also, what documents are those which need in order to be able to ensure you of that the merchandise in path is that which have negotiated buy, why means of transport is travelling, in what date has been boarded, in what date will arrive, which is the final destination, when has make the payment, which is the incoterm applied, etc.

It involves reproducing in the documentary letter of credit all the prior agreements agreed with your supplier.

It is important to request all the documents necessary for its processing, sending and for justifying its import to the authorities. Taking into account that the documentary letter of credit manages documents (not merchandise) and is independent of the business and contractual relationship between the parties.

If you would like to know more about these products, view these presentations:

Remittances and Documentary Letters of credit (PDF, 3.7 MB)

Letters of Credit in Bankia Online Business (PDF, 1 MB)

Acting parties

Importer: Bankia customer and applicant of the letter of credit with the purpose of paying your debt if the exporter meets the established conditions.

Exporter: the payee of the letter of credit if the party receiving the amount of the sale provided that the agreed documents are complied with.

Issuing bank: is the company that ordered by the importer opening the credit, manages the operation and guarantees the payment in case the conditioned agreed is fulfilled between importer and exporter. In our case Bankia.

Bank of the payee: bank where the payee is a customer. Deals with the documentation.


Product advantages

  • Security in the transaction since will only be proceeded to the payment if the exporter complies with its part
  • Accreditation of solvency before the supplier promoting the power to negotiate
  • Legal protection. The documentary letters of credit are regulated by the International chamber Of Commerce (UCP600)
  • Calm before the backup contributed by the experts in Bankia's foreign trade for the monitoring and the review of the documentation
  • It allows obtaining financing of the supplier, then when contributing bank guarantee is easier negotiate a deferred payment.
  • To the supplier will be able to anticipate the charge thanks to the offer of Forfaiting Bankia risk (without recourse financing)


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