Letters of Credit - Commercial Letters of Credit A written undertaking by the Bank to pay a client's foreign/domestic supplier on the condition that all required documents are presented. Import LC Domestic LC   Foreign & Domestic - Standby-Letters of Credit This is a stand-by credit facility issued to the customer to guarantee payment for non-performance of an obligation.   Bank Guaranty A facility where the Bank requests the shipping companies to release customers goods prior to the receipt of the original documents.   US$ and Peso Trust Receipts Trust Receipt is an agreement between an importer and his bank, which enables the importer to obtain possession of the goods upon arrival, and to pay for them at some future date.     Export Packing Credit / Export Bills Purchase An Export Packing Credit is a pre-shipment financing facility for exporters against an Export Letter of Credit, confirmed Purchase Order or Sales Contract.   Export Bills Purchase is a facility wherein the Bank purchases the exporters' LC and advances payment to the buyer/exporter even prior to receiving payment from the buyers' bank.   Clean & Documentary Collections A facility where the Bank receives documents sent for collection but is not covered by Letters of Credit; i.e. Documents against Payment, Documents against Acceptance and Open Accounts.   Import Bills/Customer's Liabilities under Acceptances A type of credit accommodation, wherein documents under Letters of Credit are negotiated either at sight (Import Bills) or usance (Customer?s Liabilities under Acceptances).   Trade Receivables Financing A facility wherein the Bank purchases the trade receivables of the client and pays the client in advance at a discounted rate.   Trade Payables Financing A facility wherein the Bank purchases the trade payables of the client and pays the supplier in advance at a discounted rate.