How We Trade/Payment terms
Payment Terms: MT700 LC and MT760 SBLC
Payment is secured by your bank, through an MT700 letter of credit or an MT760 standby letter of credit.
Trade finance
MT700 and MT760 compared
| MT700 documentary letter of credit | MT760 standby letter of credit | |
|---|---|---|
| What it does | The issuing bank pays the seller when compliant shipping documents are presented. | The issuing bank pays only if the buyer fails to pay or perform. |
| When it pays | On presentation of the documents the credit calls for. | On a written demand stating the buyer’s default. |
| Governing rules | UCP 600, issued by the International Chamber of Commerce. | ISP98 or URDG 758, as the instrument states. |
Type, amount, expiry and tenor are fixed in the contract and the instrument must match them.
How We Trade
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Request a quotation
Send the product, quantity, discharge port and delivery window. The trading desk replies with a formal offer after counterparty checks.