
Hancock offers a broad range of trade services to help importers bring goods into the United States. Whether you are preparing your first transaction, or you are an experienced trader, our international import experts can assist you in structuring your payment through letters of credit, documentary collections, or open account.
An L/C is issued by a bank in order to guarantee your supplier payment for goods or services, provided that the terms of the L/C are met. Details within the L/C and the supporting documentation are critical and our Trade Finance Group can help ensure you are protected.
Companies that bid on international or domestic contracts are often required to demonstrate their financial integrity by means of a Standby Letter of Credit. Standby L/Cs are also useful in a variety of business transactions where a seller requests assurance of your ability to meet financial obligations. Contact our Trade Finance Group for more information.
Once you have developed a strong relationship with a supplier and you're confident in their ability to perform, buying under a Documentary Collection basis maybe more appropriate for you. Our Trade Finance Group can advise you on the best collection vehicle for your particular transaction.
A clean collection works much the same as a documentary collection, with the banks facilitating payment. However, in this case a draft/check is sent or accepted without involving the shipping or title documents.
Our Trade Finance Group can provide a customized financial package tailored to meet your international requirements for a variety of credit facilities; including accounts receivable financing, access to credit provided by foreign governments, and the issuance of letters of credit.
Our Foreign Exchange services help you manage currency exposure when buying or selling internationally. Whether you need to pay cross-border receivables, or you need a forward contract to reduce your foreign currency risk, our experts are here to advise you.