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Today's
fast-paced international economy requires rapid
reactions to new opportunities. With Citizens
Business Bank, you leverage a variety of resources
to stay competitive and build your global business
success.
Citizens Business Bank provides a seamless response
to your international banking needs. Your Citizens
Business Banker, already familiar with your business
practices and requirements, provides the gateway
to letters of credit, collections and other vital
services through correspondent banks worldwide.
Extending your domestic banking activities into
the international arena, Citizens Business Bank
saves you time and effort. You enjoy the prompt,
knowledgeable, highly personal service your business
deserves. |
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Commercial Letter of Credit |
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| A
Commercial Letter of Credit is a
payment instrument issued by the Bank on
behalf of the importer, which assures the
seller that his drafts will be honored provided
that the terms and conditions set forth
in the credit have been complied with. There
are two basic types of credits:
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1. |
Sight
- drafts that
are payable at sight |
2. |
Usance
- drafts payable
at some future specified date |
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Documentary Collections |
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| Documentary
Collections contain, in addition
to the draft, shipping documents (e.g. Bill
of Lading) which control title to the merchandise.
Both the draft and the documents are forwarded
to a correspondent bank for presentation
to the overseas buyer. Title documents are
to be released only after payment or acceptance
of draft. |
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Clean Collections |
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| Clean Collections
are checks or drafts in U.S. dollars or
foreign currencies drawn on foreign banks,
companies or individuals. |
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The Remittance |
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| The Remittance
of funds to another country for either business
or personal reasons can be done in two ways;
either by means of a draft or a payment
order. Both can be issued in U.S. dollars
or many foreign currencies. Payment orders
are telegraphically transmitted. Cashier's
checks and money orders are to be used for
domestic payments only and are not to be
used for foreign payments. |
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Letters of Credit and Collections |
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| Letters of
Credit and Collections are subject
to the International Chamber of Commerce
Publication in effect on the date of your
relevant remittance letter.
Wherever in the world business takes you,
make your first destination Citizens Business
Bank. For more information about our International
Banking services, please contact your Citizens
Business Bank Banker or:
Frank Maslowski
Vice President and Manager
international@cbbank.com
Citizens Business Bank
International Services
701 N. Haven Avenue, Suite 270
Ontario, CA 91764
Phone: (909) 980-4030 Fax: (909) 481-2101
SWIFT: CBBKUS6L
Telex: 1561138 CBB CA |
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