PAYMENT AND PERFORMANCE RISK
The removing of borders and restrictions on global trade has opened up a world of opportunities, but with it has come a whole new set of challenges. Ensuring performance under differing contractual standards and guaranteeing payments across currencies and cultures have made traditional letters of credit more important than ever.
As one of the leading trade banks in the world, Wachovia is the fourth largest processor of commercial letters of credit in the United States, and the first bank to enable our customers to initiate letter of credit transactions over the Internet.
Banker's Acceptance Financing
A potentially less costly method of supporting short-term (six months or less) trade transactions, a banker's acceptance is a time draft drawn on, and accepted by Wachovia. By accepting the draft, Wachovia indicates its commitment to pay the stated amount of the draft on a specified future date.
Documentary Collections
Wachovia can act as an intermediary for exchange of funds and documents as a less costly alternative to letters of credit
Letters of Credit
An extension of Wachovia's credit to guarantee payment to your domestic or overseas suppliers
Structured Trade Finance
For exporters requiring short or medium term financing to support export sales, Wachovia can advise profitable financial solutions from a wide array of public and private sector alternatives
Email This Page
Printer Friendly Version
