At Comerica, we understand what’s important to your import business. One of your primary goals is to optimize cash flow. And at the same time minimize payment risk, reduce costs, and simplify the management of your trade process.

With Comerica’s comprehensive range of import solutions, you can achieve your goals and strengthen the way you do business around the world.

Import Letters of Credit

Reduce your risk and conduct business with greater confidence with Import Letters of Credit. As an importer, you naturally want to extend payment as long as possible, and make sure what is delivered meets your requirements. Your supplier, on the other hand, wants to obtain payment as soon as possible, while avoiding the risk of non-payment. With an Import Letter of Credit both parties can be satisfied.

You get the highest level of assurance that your goods will be shipped according to the terms and conditions stipulated by you in the Letter of Credit—before you pay—and your supplier gets the assurance that they will receive payment.

When Comerica issues an Import Letter of Credit on your behalf, you have our name and credit behind you. This reassures suppliers that they will be paid for goods purchased, strengthening your global trading position. By providing this protection, you may obtain favorable terms and pricing, as well.

Standby Letters of Credit

Protect your interests and provide the assurance your suppliers require that you will fulfill your financial and performance obligations with a Standby Letter of Credit. A versatile financial instrument, it can be used to support your import transactions in a variety of ways, helping you conduct global business more easily and securely.

Use a Standby Letter of Credit to:

  • Supplement credit limits with your suppliers, to capitalize on sales opportunities
  • Back a contract with a supplier for the purchase of goods or services
  • Get back-up on an international warranty for machinery purchased

Documentary Collections

Control payments to your suppliers and expedite processing with a Documentary Collection. When you’re dealing with a trusted supplier, but still require control over the transfer of goods, documents and funds, a Documentary Collection is a simple and cost-effective way to facilitate payment on open account purchases.

You maintain control over the payment to your supplier—payment is made only after title documents for your goods are received by Comerica. You also free up your credit facility for other uses.

Import Financing

When you need an alternative to your traditional borrowing base to help support inventory and purchases, Comerica can structure Bankers’ Acceptances at competitive rates, allowing you to get short-term funding advances when you need them.

Online Global Trade Services

Simplify and speed your trade process with Comerica GlobalTRADE Web®, our innovative, Web-based solution for managing global trade transactions. Manage your Export Letters of Credit, Standby Letters of Credit and Documentary Collections online, in real-time, 24/7.

We also offer flexible file transfer options, letting you simplify and speed the movement of trade data between your back office and Comerica.