Trade Services

Are you dealing with overseas suppliers or maximizing your profits by developing your export markets? Horizon Bank can assist you in structuring and completing your transactions to minimize your risks and improve cash flow.

Import Letters of Credit

Overseas companies frequently require Letters of Credit (LCs), not always because of concern about your ability to pay, but because their banks require LCs to back the companies' working capital loans. With an Import Letter of Credit you pay nothing until we've examined documents indicating the goods have been shipped. If there are discrepancies between the documents and what you had requested in the LC, we'll hold payment until you authorize us.

Export Letters of Credit

Reduce the risk of your overseas buyer's non-payment or slow payment with a Letter of Credit (LC) from your buyer's bank. The LC is the bank's promise to pay you upon your submission of certain documents showing that you have shipped the goods. Horizon Bank can facilitate your Export Letter of Credit transaction.

Export Documentary Collections

Reduce your risk and improve payment flows by maintaining control over the documents your buyer needs to take possession and legal title of the goods and to clear customs. By holding the Bill of Lading, Commercial Invoice and other documents until the buyer pays, you're much more likely to receive prompt payment of the full amount. Horizon Bank will assist you in handling your Export Documentary Collections.

International Wire Transfers

Transfers can be made between Horizon Bank and banks around the world. Incoming wire information is recorded on your account statement.

Import Documentary Collections

Avoid the cost and risk of making payment in advance, or the cost of using your Credit Line or Letters of Credit. A simple and inexpensive alternative is Documentary Collections. With Collections, the supplier ships the goods, then sends the Bill of Lading, Commercial Invoice and other documents you may need to clear customs. We contact you and release the documents to you in exchange for your immediate payment ("sight draft") or promise to make payment on a specified future date ("time draft").

Standby Letters of Credit

There are times when you may need a bank to back up an obligation to a third party with a Standby Letter of Credit. Horizon Bank has the expertise to facilitate your needs for these kinds of undertakings.