1. Improves your revenue potential
- As an intermediary (middleman or agent), you can generate revenue for co-ordinating the trade transactions between the importer and the exporter
2. Allows you to conduct business on a larger scale
- As an intermediary (middleman or agent), you may do business on a larger scale, since the security provided by the Import Documentary Credit may be transferred to the actual supplier(s) or other parties to the transaction that will receive payment
3. Access to trade finance expertise
- Our trade finance experts provide you with structuring, mitigation and financing expertise and up-to-date country and trade risk guidance to support and expedite your trade transactions
Is it for you?
Transferable Credits may be a feature for you if you:
- Act as a purchasing agent in Canada for overseas buyers, in which case you would need to request that the applicant applies for a Transferable Credit from his/her bank
- Source your imports through your agents in other countries, in which case you can apply to CIBC to issue a Transferable Credit to your foreign agent
- Have business contacts in different countries, facilitating 2-way trade transactions between importers and exporters
The above is intended to be only a general description of this product and its features. Certain conditions, restrictions and exceptions may apply. CIBC reserves the right to change or discontinue this product or any of its features at any time. This product and its features shall be subject to the terms and conditions of the applicable agreement governing its use. For more information, please contact our Trade Finance team.