Letter of Credit
Alloya’s Letter of Credit service provides a written commitment from the corporate on behalf of the credit union, guaranteeing that the credit union buyer's payment (foreign or domestic) to a seller (or exporter) will be received on time and for the specified amount. This is a legally binding contract that cannot be cancelled without agreement from all parties.
Gain peace of mind with the negotiating power of the corporate. With just an email or phone call to Alloya with the necessary information, our Lending team will take care of the rest. Alloya will find the best price/rate for your Letter of Credit – and payment is only made if the seller fulfills the terms. Letters of Credit will help your credit union eliminate cash advances or prepayments and avoid delaying transactions.