Success partner for your global takeoff,
The Global Network of Korea Eximbank.

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Trade Finance

L/C confirmation

L/C confirmation is the facility whereby Korea Eximbank adds the second payment guarantee on the Letter of Credit in addition to that of the issuing bank.

  1. Importer - Issuing L/C → Issuing Bank
  2. Issuing Bank - Paying L/C Confirmation Fee → KEXIM
  3. KEXIM - Confirming L/C → Issuing Bank
  4. Exporter - Presenting shipping documents → Negotiating Bank
  5. Negotiating Bank - Payment of Export Bill → Exporter
  6. Importer - Repayment → Issuing Bank

    Issuing Bank - Repayment → Negotiating Bank

    KEXIM - Repayment (If the issuing bank fails to repay) → Negotiating Bank

Terms & Conditions

Terms & Conditions table
Content Details
Eligible Company Company with favorable credit record
  • Which has manufacturing experience more than 1 year & export records of same sort of product, or
  • Which has transaction record more than once with same Importer
L/C to be confirmed
  • Irrevocable L/C issued by a Bank which makes an Agreement with Korea Eximbank
  • L/C amount shall be up to maximum 50 Million U.S. Dollars

Contact Information (Interbank Finance Dept)

Contact information (Interbank Finance Dept)
Asia, Turkey +82-2-3779-6365 Russia, India, Europe +82-2-3779-6373
MENA, CIS, Africa +82-2-3779-6370 Latin America +82-2-3779-6367