Letter of Credit
A letter of credit is handy if you own a business and need to guarantee payment for goods or services to a beneficiary.
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Key Features & Benefits
A letter of credit is handy if you own a business which imports or exports—it serves as a guarantee to the seller that it will be paid by the issuer of the letter of credit regardless of whether the buyer ultimately fails to pay.
How we’re Keeping it Simple® for you
- Contact your Business Banking Account Manager at Valley First
- You make a deposit with us (in Canadian dollars)
- We then give you a letter verifying that we'll be responsible for your debt (up to an approved amount) should you default.
- Send this letter to your potential creditor, and and you’re good to go!
Have questions? Contact us today for more information about getting a letter of credit.
If you'd like to apply for a letter of credit, simply contact us and we'll handle the rest.
If you're more comfortable coming in to see us, we'd be happy to chat with you about getting a letter of credit with us.
If you’d like to call us, here is a complete list of our branch and insurance office numbers.