At Eastern Bank, we recognize that international commerce constitutes a significant market for our customers. That's why we offer a full range of trade services designed to facilitate international business transactions and minimize risk.
For more information, please call 617-897-1106 or submit an online request to be contacted by one of our International Banking Specialists.
A letter of credit is a flexible and widely accepted payment method that can be tailored to suit the needs of both the buyer and the seller.
Import Letters of Credit
If you depend on overseas suppliers for materials or finished products, Eastern Bank Letters of Credit can help you assure payment to the seller and conduct business more efficiently. You can use the Global Trade online platform to initiate and manage your letter of credit transactions via the Internet.
Export Letters of Credit
If you export, we can help you reduce the risk of doing business overseas by acting as the advising or confirming bank for you, working to ensure that your payments are received as quickly as possible. A confirmed export letter of credit reduces your risk of nonpayment for political or financial reasons. You can use the Global Trade online platform to manage your export letter of credit portfolio from your computer.
Standby Letters of Credit
We also offer standby letters of credit, which are financial instruments used to support a broad range of situations, including performance under a contract, payments to a supplier or satisfaction of lease requirements. Our trade specialists have the experience to offer advice on how to best structure a transaction to fit your needs.