Enabling International Transactions and Credit
Personalized services to help with currency exchange and international transactions.

Importing and exporting are the pillars of international business. Our International Services department has over 60 years of experience working with companies on a global scale. You can count on us for a high level of personalized service from start to finish. We provide timely processing of all export/import documentation, including:

  • Commercial letter of credit – a bank instrument, opened for an individual or a business, by which the bank substitutes its own credit for that individual or business. First Tennessee issues import letters of credit to assist local customers making foreign purchases, so the credit risk of payment to the foreign seller becomes that of First Tennessee.
  • Confirmed letter of credit – First Tennessee also confirms the letters of credit issued by foreign banks when a local exporter prefers its payment risk to be that of First Tennessee, as opposed to a foreign bank.
  • Draft discounting – improves the cash flow of a shipper/exporter when proceeds from deferred payment letters of credit can be made at sight, on a non-recourse basis.
  • Documents Against Payment – shipper/exporter instructions for a bank, which indicate that collection documents transferring goods’ title should be delivered to the buyer only when the bank has receipt of the buyer’s payment.
  • Documents Against Acceptance – shipper/exporter instructions for a bank, which indicate that collection documents transferring goods’ title should be delivered to the buyer only with the buyer’s acceptance of the attached draft.

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