Letters of Credit

A letter of credit (Documentary CreditLetter of Credit – L/C) is a bank's obligation to pay for the goods or services issued upon the buyer's request in accordance with documents submitted by the seller, which correspond to the terms and conditions specified in the letter of credit.

How can a buyer benefit from this service?

How can a seller benefit from this service?

What major conditions should be met to receive a letter of credit?

A letter of credit may be issued when a company deposits funds in a special bank account or from a credit line provided to the company.

Where to apply for letters of credit?

We kindly recommend You to contact the Trade Finance and Factoring Department of Šiaulių Bankas:

Required information  and assistance can also be provided in a customer service point which is servicing Your company or by the Bank's Contact Centre by tel. 1813  (+370 301 337 337 when calling from abroad).