Supplier Solutions

• A Commercial / Documentary Letter of Credit, as a primary payment mechanism for a transaction. This Letter of Credit should be requested when the supplier is expecting to receive payment for their shipment from or through The Windward Islands Bank that issued the Letter of Credit rather than from your business. This Letter of Credit is a guarantee of payment for a single transaction / shipment from a supplier. If your business has multiple transactions / shipments throughout the year from one supplier, it may be more appropriate to consider a Standby Letter of Credit.

• A Standby Letter of Credit, as a secondary payment mechanism. A Standby Letter of Credit is a guarantee of payment in the event that your business defaults on a payment. It is used when the delivery of goods is in form of partial or multiple shipments and is not restricted to a single transaction. This Letter of Credit can be utilized for subsequent business transactions over a period of time on a continuous basis to the extent of limit sanctioned.

To get a letter of credit or for more information, follow the procedure:

1. Schedule an appointment or simply contact for more information: Gwendolyn De Cuba at [email protected] or call (1-721) 546 2109.

2. Required documentation in preparation for an appointment:

• ​A proforma invoice.
• Chamber of Commerce Excerpt, Shareholder Registry and Articles of Incorporation for the Business.
• Picture ID of managing director(s) and owner(s) of the business.
• ​​3 years of most recent Financial Statement and 3 year projections.
• Recent Salary slip of Owners (if they receive a salary from the business).
• For purchasing equipment: Quotations of equipment to be purchased.
• For purchasing property: A recent appraisal of existing property (and any additional developments for which financing is being requested).
• All required permits for business and building (if applicable).
• ​Documentation on third party requirements for the Letter of Credit.

The Windward Islands Bank offers Bank Guarantees to third parties, such as vendors / suppliers or the government on behalf of your business, as security for purchasing / selling goods, commercial construction (Building Contractors) or for bidding on government project(s).
Bank Guarantees may be a requirement with particular third parties.

To get a bank guarantee, follow the procedure:

1. Required documentation in preparation for an appointment:

• Documentation on third party requirements for the Bank Guarantee
• Chamber of Commerce Excerpt, Shareholder Registry and Articles of Incorporation for the Business
• Picture ID of managing director(s) and owner(s) of the business
• 3 years of most recent Financial Statement and 3 year projections
• Recent Salary slip of Owners (if they receive a salary from the business)
• For purchasing equipment: Quotations of equipment to be purchased
• For purchasing property: A recent appraisal of existing property (and any additional developments for which financing is being requested)
• All required permits for business and building (if applicable)

2. Contact one of our Commercial Credit Account Managers to schedule an appointment.

The Windward Islands Bank offers both local and foreign cashier's cheques.

• Local Cashier's Cheque: The Windward Islands Bank offers Local Cashiers Cheques as some suppliers on the island only accept these cheques as a form of payment. These cheques will always be honored as the funds are deducted from the customer's account prior to issuing the cheque.
• Foreign Cashier's Cheque: The Windward Islands Bank offers Foreign Cashier's Cheques.
  

To get local / foreign cashier's cheques:

1. Required documentation in preparation for an appointment:

• An existing business bank account with The Windward Islands Bank.
• Valid Picture ID.
• Correct Beneficiary Name.

2. Visit the Nearest Branch.