Import Letters of Credit

Do you require letters of credit to import merchandise from overseas? At Sterling, we guide you through the process from start to finish. We understand that your objective is obtaining the merchandise for resale and securing financing for as long as possible, so we try to create opportunities not obstacles.

Responsiveness and flexibility are hallmarks of Sterling's Letter of Credit service. Because we process letters of credit and examine documentary drawings from our Trade Service Facility in Hong Kong, we can offer efficient service to clients while minimizing banking costs. We are on the leading edge of technology with a state-of-the-art system to handle all aspects of your letters of credit from our automated web based application and amendment process right through documentary examination and payment. While technology is an important part of any banking service, people make the difference at Sterling where we entrust our clients only to our experienced, knowledgeable and dedicated trade banking professionals.

Standby Letters of Credit

Sterling's standby letter of credit is widely accepted in both the local market and worldwide. 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. Sterling is a leading provider of standby letters of credit securing lease payments to real estate companies in the New York Metropolitan area.

Transferable Letters of Credit

Transferable letters of credit, in addition to providing a financing alternative to trading companies and middlemen, can also be employed by a borrower that is approaching the maximum utilization under an existing line of credit provided by a financial institution. Using a transferable letter of credit can assist you in managing your business through peak purchasing seasons without the need to request a temporary over-line limit on your credit facility.

Documentary Collections

Whether it's delivering documents against payment or acceptance, or a variety of other provisions, Sterling stands ready to provide a client-friendly and highly efficient documentary collection service. Our associates are professionals with many years of experience who understand that trade finance is our business not yours. After all, you're only concerned with obtaining the merchandise. You don't need to understand ICC Publication 522—that's the bank's job. Responsiveness and flexibility are hallmarks of Sterling's collection service. Our state-of-the-art system manages all aspects of the collection process from inception to payment. And, we entrust our clients only to our experienced, knowledgeable and dedicated trade banking professionals.

Sterlinks II

Sterlinks II provides a faster, easier, more secure and cost saving system to electronically submit your letter of credit applications, request amendments, and approve discrepancies as well as notifying you of the arrival of documents either under a collection or a letter of credit.