Our exceptional list of services includes:
- Standby Letters of Credit
- Clean Letters of Credit for the insurance and reinsurance industry accepted by National Association of
Insurance Commissions (NAIC)
- Documentary Letters of Credit
- Comprehensive import trade banking services
- Bid bonds, performance bonds and payment bonds
Through links with our foreign exchange, transmission and cash management groups, we provide
integrated services for our customers. With our overseas offices and a worldwide correspondent bank
networks, we can issue a letter of credit in any major currency and have it advised through any country
in the world. We also advise Letters of Credit issued by other banks to beneficiaries in Bermuda.
Our individually assigned Letters of Credit representatives ensure that your company benefits from a
single point of contact that ensures your requests are dealt with promptly and efficiently.
Butterfield makes payment under a Letter of Credit only against the presentation of documents stipulated
in the Credit. The Bank does not deal in actual merchandise (in the case of a Documentary Letter of
Credit), nor does it verify a default (in the case of a standby Letter of Credit).
The Bank issues Letters of Credit subject to the Uniform Customs and Practices formulated and revised
periodically by the International Chamber of Commerce (ICC). Copies of the current ICC publication are
available to clients on request.