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21 branches, only one number

058 211 21 00

(Mon. to Fri. from 7.30am to 7.30pm and Sat. from 9am to 4pm)
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Banque Cantonale de Genève
Quai de l'Ile 17 - CP 2251
1211 Genève 2

Fax : +41 58 211 21 99

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Documentary credits

Documentary credits

With documentary credits, the BCGE offers you a payment and credit instrument which is recognised worldwide, with a view to minimising risks in the international trade of goods and services.

ADVANTAGES

  • The seller receives a bank instrument which specifies the undertaking given by the issuing or confirming bank
  • The buyer makes payment solely against presentation of compliant documents indicating that the goods have been shipped

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  The essentials Further information Contact us 
The essentials

Documentary credits: definition

A documentary credit, or letter of credit, is a by-product of international trade. It is used to reduce import and export related risks. It is most often found in long-distance sales transactions. This is why reference is usually made to a sales contract. The documentary credit serves to guarantee payment for the provision of services resulting from this basic contractual relationship.

First and foremost, a letter of credit is a payment instrument which has become virtually essential in trade operations. In practice, the buyer discharges its duty to pay for the goods ordered by means of a letter of credit instead of paying the purchase price directly. By accepting the inclusion of a letter of credit clause in the sales contract, the buyer undertakes to authorise a bank to issue a documentary credit, and to pay the sale price to the beneficiary (seller) against presentation of compliant documents.
Further information

Conditions

Handling letters of credit is subject to the uniform rules and practices published by the International Chamber of Commerce in Paris. These rules are regularly revised so as to comply with commercial practice.

A letter of credit is quite a costly instrument. It is not recommended for small-scale operations.

Please call us

058 211 21 00
Monday to Friday
7.30am  - 7.30pm


Saturday
9am  - 4pm

Exchange rates

27.06.2017

EUR EUR Atm 1.106 
EUREUR 1.1171 cours euro en hausse
USDUSD1.0073 cours usd en baisse
GBPGBP1.2917 cours usd en hausse
YENYEN0.8941 cours yen en baisse
EUR EUR Atm 1.074 
EUREUR1.0626 cours euro en hausse
USDUSD0.9223 cours usd en baisse
GBPGBP1.1734 cours usd en hausse
YENYEN0.8253 cours yen en baisse

Indicative informations

BCGE group investment strategy

Stock market report (French only)

Stock market prices

BCGE 157.00 ---
SMI 9,072.92 ---
cours action bcge Data source: SIX Financial Information SA
© 1999-2017 BCGE
   Banque Cantonale de Genève
   Case postale 2251
   1211 Genève 2
   Tél: 058 211 21 00