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Types of documentary credits
Availability
Sight payment creditsThe applicable security criteria will differ depending on the form of the sight payment credit.  | | Deferred payment creditsUnder a deferred payment credit, the issuing bank and any confirming bank undertake to effect payment on a specified later date subject to the presentation of the stipulated documents on or before the expiry date of the documentary credit. |
Acceptance creditsUnder an acceptance credit, on presentation of the stipulated documents and a draft drawn on the issuing or the nominated bank, the exporter receives a bill of exchange undertaking that payment will be effected on the designated due date. | | Negotiation creditsUnder a negotiation credit, the exporter receives an advance or an agreement to advance the funds from the negotiating bank on presentation of the stipulated documents and, where applicable, a draft. |
Documentary credits in transit tradeA documentary credit is also an appropriate means of meeting the security | | Special types of creditUBS offers you different products of special types of credit. |
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