Simplify the way you do business around the world.
SunTrust makes it easier for you to do business around the world, whether you're purchasing supplies from overseas vendors or selling goods to buyers abroad. Our team of international experts can provide you with the solutions and advice to help you manage foreign exchange, letters of credit and payments, international trade and trade financing.
SunTrust Online Trade Services can help increase efficiency while reducing costs and risk. It is a web-based application that allows you to manage and process your trade and standby letters of credit, as well as your documentary collections. Whether you are in the office or overseas, control of your letters of credit and documentary collections is at your fingertips with:
- Secure online access
- Straight-through processing for Letters of Credit and Documentary Collections
- Direct email communications with Global Trade Services International Operations
- Document image delivery, tied to specific transactions
- Automated discrepancy notification and resolution
- Customized reporting
- Anytime, anywhere access from any computer with an Internet connection
Import & Export Letters of Credit reduce payment risks
Import Letters of Credit assist importers by reducing payment risks associated with buying from international suppliers. As an importer, you can be more secure knowing that the exporter must comply with the terms of the Letter of Credit in order to be paid.
As an exporter, you may be concerned with the risks of selling to an international customer, especially a new one. An Export Letter of Credit gives you a measure of security and the assurance that you will be paid once you have shipped product and are in compliance with the terms of the letter of credit. SunTrust Online Trade Services platform will assist you with managing both your import letters of credit and export letters of credit.
Standby Letters of Credit demonstrate SunTrust backing
Standby Letters of Credit give your counter party assurance through demonstrated financial backing from SunTrust Bank. We have extensive experience creating standby letters of credit for all types of international and domestic transactions—and you can be confident we will deliver the advice and solutions to support for your objectives.
Documentary Collections are cost-effective option
Documentary Collections provide a cost-effective alternative to letters of credit and do not tie up your line of credit. SunTrust is still involved to control documents and payments but does not provide conditional guaranty of payment as with Letters of Credit.
With Online Trade Services, you have access to both import and export Document Collections solutions. You can create and send cover letters and payment instructions, view images of your incoming collections and create customized reporting.