Dokumentenkredit

Dokumentenkredit, also known as documentary credit or letter of credit, is a payment method commonly used in international trade. It is a commitment by a bank to pay a beneficiary a specified sum of money upon presentation of stipulated documents, provided that all terms and conditions of the credit have been met. This mechanism aims to reduce the risk for both the buyer (importer) and the seller (exporter).

The buyer, seeking assurance that goods will be shipped as agreed, opens a dokumentenkredit with their bank. The seller, concerned about receiving payment, is then assured by the buyer's bank that payment will be made once they present the correct shipping documents. These documents typically include a bill of lading, commercial invoice, and insurance policy, proving that the goods have been dispatched and meet the contractual requirements.

When the seller presents the required documents to their bank (or the nominated bank), and these documents comply with the terms of the credit, the bank is obligated to make the payment to the seller. The buyer's bank then reimburses the paying bank. This process provides a secure transaction by substituting the creditworthiness of the banks for that of the parties involved. Dokumentenkredite are governed by international rules, most notably the Uniform Customs and Practice for Documentary Credits (UCP) published by the International Chamber of Commerce.