PNC's import and export services support and simplify your international commercial goods purchases and sales. Our range of services can streamline document exchange, reduce payment or collection risks, and facilitate your financial transactions almost anywhere in the world.
PNC's Import, Export and Standby Letters of Credit can provide you with security and convenience when you are concerned with the risks entailed with buying or selling goods and services abroad. There are three basic types of Letters of Credit:
Import Letters of Credit
PNC's long-standing international reputation and our strong credit rating ensure that our Import Letters of Credit are accepted worldwide. And our extensive correspondent banking network can get them delivered virtually anywhere.
Export Letters of Credit
When you have overseas customers, PNC can advise, confirm and negotiate the Export Letters of Credit to secure payments from almost anywhere in the world.
Standby Letters of Credit
When additional support is needed to secure your project bid, your performance, or your financial obligation, our standby letters of credit can help to back your project or contract.
PNC's Documentary Collections services help importers and exporters keep trade risks in check by controlling document and payment exchange. Information on outstanding collections is easily accessible online. All this offers sellers more control over title documents and encourages buyers to comply with agreed payment terms.
Trade risk can be reduced and short-term liquidity enhanced with our Banker's Acceptance Financing, providing short-term purchase of time drafts on trade payments.
PNC’s Global Trade Excellence® service provides an efficient and secure web-based transaction service and reporting system. You can initiate transactions and automate your reporting capabilities for all of your letters of credit, documentary collections and bankers’ acceptance transactions. You can also easily access information for your trade services online, as PNC processes transactions throughout the day.
When dealing with buyers or suppliers in other countries, the rules and regulations involved can often seem like a confusing maze of information and requirements. Let PNC help you navigate that maze by introducing you to our strategic sources -- companies and agencies that can provide a full range of services to assist with your non-bank, trade services needs.
The Office of Foreign Assets Control ("OFAC") of the U.S. Department of the Treasury administers and enforces economic and trade sanctions based on U.S. foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction. To learn more about how your business may be impacted by this legislation, please visit the U.S. Department of the Treasury's OFAC website.
Please contact your Treasury Management Officer or Treasury Management Client Care (TMCC) at 1-800-669-1518 with any questions.