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Letter of Credit

More companies in the Twin Cities and across the region are expanding through domestic and international trade. At Citizens Independent Bank, we help businesses move forward with confidence by providing Letters of Credit that reduce risk and ensure reliable payment for complex transactions.


We help open doors for your business.

 

In today’s competitive marketplace, U.S. businesses frequently partner with domestic and international suppliers to buy and sell finished products and raw materials. Letters of Credit play a critical role in making these transactions run smoothly, especially when trading across borders or with new counterparties.

 

Our experienced team works closely with you to structure Letters of Credit tailored to your specific transaction, providing assurance to sellers that Citizens Independent Bank will honor payment obligations if the buyer does not meet the terms of the agreement.

Benefits

  • Letters of Credit can also be used to facilitate large domestic transactions as well
  • Letters of Credit can eliminate the need for costly insurance company performance bonds
  • Typically issued for one year or less, with easy renewal options
  • Fees based on the value and structure of the transaction
  • Interest accrues only if payment must be made to the beneficiary on your behalf



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Unlock the Power of a Local Banking Relationship.

Your business deserves more than a transaction. Connect with a team that takes the time to understand your goals and provide personalized guidance every step of the way.

Types of Letters of Credit We Offer

Each structure is designed to align with your transaction size, timing, and risk profile.

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Commercial Letters of Credit
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Standby Letters of Credit
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Revolving Letters of Credit
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Irrevocable Letters of Credit
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Intermediary Letters of Credit




































We provide business banking, personal banking, mortgage lending, and financial services to businesses and individuals across the western Twin Cities. Explore our local banking locations in Saint Louis Park, Robbinsdale, Hopkins, and Plymouth to find the branch most convenient for you.