Time Letter of Credit (MT700) – Secure Post-Dated
Trade Payments with Confidence Structured Payment Terms | Guaranteed Maturity Date | SWIFT MT700 Delivery Worldwide
⚠️ Buyer Wants Delayed Payment Terms? Don’t Accept Without Guarantees
A French machinery exporter agreed to 120-day payment terms. Four months later: silence. With NNRV’s Time LC, their next buyer paid on the exact due date—bank-committed. No excuses, no losses.
🧠 “NNRV helped us issue a 90-day Time LC. The bank paid right on schedule. We’ll never ship without one again.” – Louis R., Industrial Equipment Exporter
What is a Time Letter of Credit (LC)?
A Time LC (also called a Usance LC with fixed maturity) is a documentary credit that ensures the seller gets paid at a future date—typically 30, 60, 90, or 180 days after shipment—once the shipping documents are accepted by the issuing bank.
Unlike Sight LCs, Time LCs provide the buyer with delayed payment terms while giving the seller a firm bank guarantee for payment on maturity.
At NNRV Trade Partners, we issue Time LCs via SWIFT MT700 across 40+ banking partners, fully aligned with ICC UCP 600 regulations.
🧠 “We don’t mind giving 60 days anymore—as long as we have a Time LC from NNRV.” – Nana E., Cashew Exporter
Key Benefits of Time LC
✅ Guaranteed Payment on Maturity – Seller receives funds on a fixed future date.
✅ Competitive Export Terms – Give buyers payment flexibility without losing security.
✅ Risk Transfer to Bank – Payment backed by issuing bank, not just the buyer.
✅ Accepted Worldwide – MT700 format under UCP 600 ensures global acceptance.
✅ Discountable – Many banks allow early discounting before maturity.
How Does a Time Letter of Credit Work?
Buyer Applies for Time LC – Specifies delayed payment terms (e.g. 90 days)
Issuing Bank Sends LC via MT700 – Stipulating payment at maturity
Seller Ships Goods – Presents compliant documents to confirming/negotiating bank
Bank Accepts Documents – Commits to pay on specified future date
Seller Gets Paid on Maturity – Or discounts payment earlier if eligible
📂 Documents Required for Time LC Issuance
To facilitate the issuance of a Required LC, we require the following documents:
📌 Proforma/Commercial Invoice – Showing delayed payment clause
📌 Valid Contract – Indicating shipment dates and payment terms
📌 Corporate Registration & Trade License
📌 Financials (Past 2 Years) – To assess risk
📌 Shipping Documents – As agreed in the LC (B/L, COO, Packing List)
📌 Buyer & Seller Bank Details
🏦 Detailed Table: Approved Banks for Time LC (MT700)
We work with top-tier financial institutions and banking partners for the issuance of Time Letters of Credit (MT700), ensuring global coverage and reliability.
| Bank Name | SWIFT Code | Advantages | Disadvantages | Issuance Fees | Issuance Time | Min. Transaction | LC Types |
|---|---|---|---|---|---|---|---|
| HSBC Hong Kong | HSBCHKHHXXX | Trusted maturity date enforcement | Higher issuance thresholds | 0.5–1% | 1–5 days | $1M | Sight, Time, Transferable |
| BNP Paribas HK | BNPAHKHHXXX | Great for EU & West Africa corridors | May request additional docs | 0.5–0.8% | 2–6 days | $1M | Time, Acceptance |
| Credit Foncier GmbH | CFEGDE82 | Reliable Eurozone partner | Slightly slower amendments | 0.6–1% | 2–7 days | $500K | Time, Confirmed |
| ICBC HK | ICBKHKHHXXX | Good for Asia-bound deals | Slower process for SMEs | 0.5–0.9% | 2–7 days | $1M | Time, Usance, Acceptance |
| ABC Bank Mauritius | ABCKMUMU | Flexible for African regional trades | Niche bank outside region | 0.5–0.6% | 2–5 days | $250K | Time, Usance |
(📩 Additional banks available depending on deal size and destination.)
🎯 Why Use a Time LC?
| 🔒 Feature | ✅ Benefit |
| Fixed Maturity Payment | Predictable cash inflow |
| Buyer Credit Flexibility | Stay competitive in negotiations |
| Risk Covered by Bank | Less exposure to buyer insolvency |
| Discount Option Available | Get cash flow before maturity |
| Globally Enforceable | Under UCP 600 via MT700 |
🛠️ Our 5-Step Process
Submit your documentation
NNRV structures & drafts the LC
You validate terms and pay issuance fee
Issuance via SWIFT MT700
Documents verified & bank commits to pay on maturity
🔍 Time LC vs Other Instruments
| Instrument | Trigger | Best Use Case | Seller Protection |
| Sight LC | Docs compliance | Immediate payment trade | 🔒🔒🔒🔒🔒 |
| Time LC | Future date maturity | Structured delayed payment | 🔒🔒🔒🔒 |
| SBLC | Buyer default | Guarantee with flexibility | 🔒🔒 |
| Usance LC | Acceptance-based | Credit-based trades | 🔒🔒🔒 |
Why Choose NNRV Trade Partners for Time LC Issuance?
🔒 Full SWIFT MT700 Issuance – Fast & secure LC delivery
🌍 Approved Banking Network – 30+ partner banks across regions
📄 Compliance Support – We pre-verify documents for acceptance
✅ Smart Structuring – Choose 30/60/90/180 days based on need
⏳ Timely Execution – LC issuance within 3–6 business days
💲 Important Notes on Fees
Time LC fees vary based on:
• Maturity duration (30–180 days)
• Risk profile of buyer and country
• Issuing bank policies
🔹 Contact our structuring desk for tailored rates.
🧠 Real Testimonials
“We got paid in full after 90 days—exactly as agreed in the Time LC.”
– Victor A., Fertilizer Exporter – Ghana
“Our first $2M Time LC went through flawlessly. Total peace of mind.”
– Juliette S., EU Raw Materials Supplier
📚 What Makes Us Different?
✔️ Structured Tenor Planning
✔️ Global SWIFT Connectivity
✔️ Pre-Issuance Document Review
✔️ Trusted Bank Matching by Region
✔️ Zero Default Rate on Time LC Issuance
📌 $250K to $50M+ trade deals protected with maturity certainty
❓ Top 5 FAQ – Answered by Experts
What is the difference between Time LC and Usance LC?
Time LC sets a fixed maturity date upfront. Usance LC requires a bill acceptance.Is the buyer still responsible for payment? No. The issuing bank commits to pay regardless of buyer liquidity.
Can I get paid earlier? Yes. Ask for LC discounting via confirming bank.
Is this valid in all countries? Yes, when issued under UCP 600 and SWIFT MT700.
What if buyer fails to pay? The bank still pays on the agreed maturity date.
🔗 Related Services
• Acceptance LC
• Usance LC
• Confirmed LC
• LC Discounting
• Export Credit Structuring
• Buyer Credit Advisory
📖 Strategic Blog Posts
• Time LC vs Sight LC: Which to Choose?
• How to Secure Post-Shipment Financing with Time LCs
• Reducing Payment Delays in Global Trade
🚀 Get Your Time LC Now!
Offer credit terms without losing control. Let NNRV structure your Time LC with maturity guarantees.
📩 Request a Free Pre-Issuance Call
☎️ Talk to an LC Expert | 🌍 Global Trust | ✅ SWIFT MT700 Guaranteed