Letters of Credit​​​​​​​​​​​​​​​​​​

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Take your business abroad.

If your company trades on an international level, you are well aware of the risks involved with cross-border tran​sactions. Comerica business specialists have a deep understanding of the nuances involved in dealing with these risks and can customize letter of credit solutions that work for your needs. These solutions include Import and Export Letters of Credit, Standby Letters of Credit and Documentary Collections — each designed to work for various international and domestic trade needs.  

Import Letter of Credit 

Ensures your payment to a foreign supplier. Your supplier receives a level of transaction protection that may result in a more favorable purchase price to you. 

Comerica is responsible for the following:

  • Issuing letters of credit on your behalf
  • Verifying that your supplier’s documents are in order
  • Paying your supplier

Export Letter of Credit ​

Confirms the payment of a foreign buyer. It ensures collection of payment from a foreign buyer for merchandise they purchase from you. 

Comerica is responsible for the following:

  • Checking the authenticity of the Letter of Credit and forwarding it to you 
  • Examining the required documents after shipment is made
  • Forwarding the documents to the issuing bank for review and payment

Standby Letter of Credit

As one of the top issuers in the nation, Comerica has extensive experience in the structure and confirmation of standby letters of credit. Our trade services professionals are highly skilled in providing consultation and quickly tailoring solutions that help ensure all parties involved in a business transaction are required to fulfill their obligations. Work with our specialists to protect your interests and provide the assurance your business partners require with Comerica standby letters of credit. 
  • Improve cash flow by freeing up company funds that would otherwise be tied up as deposits
  • Enhance credit position by leveraging Comerica’s strong credit rating
  • Less costly than some alternative methods of guarantee, such as bonds and typically faster and easier to obtain
  • Take advantage of business opportunities that would otherwise be out of reach 

Comerica can issue a Standby Letter of Credit for countless uses, including:

  • In lieu of bid and performance bonds
  • As credit enhancement for Industrial Revenue Bonds /Economic Development Corporation bonds
  • To support advance payment and payment guarantees
  • In lieu of cash or security deposits for lease agreements or worker compensation
  • To supplement credit limits with suppliers
  • As a secondary means of payment to creditors or if your company’s buyer fails to pay
​For more information, please call 800.889.2025.
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