We work with you to develop a standby letter of credit that will provide you with maximum protection while satisfying the needs of all parties. You won't find roadblocks and red tape at Sterling. You'll find ways to solve problems and do the deal. If you're seeking terms from your supplier, Sterling is prepared to support your effort by accepting the exporter's drafts under a usance letter of credit issued for your account. This facility can help you postpone payment until you have sold the merchandise.
Terms are available up to six months at reasonable rates.
Because Sterling National Bank is well known in the International Banking community, its Bankers' Acceptances are widely accepted in the marketplace. This translates to increased flexibility for you in negotiating terms with your suppliers. Bankers' Acceptances can also be used to refinance your sight Letter of Credit payments, Documentary Collection payments, and open account shipments. Domestic shipments and warehoused merchandise may also qualify in certain instances. Rates are competitive and substantially below prime.