Buyer's credit is the credit availed by an importer (buyer) from overseas lenders, i.e. banks and financial institutions for payment of his imports on due date. The overseas banks usually lend the importer (buyer) based on the letter of comfort (a bank guarantee) issued by the importers bank or the letter of guarantee by importer’s government (sovereign guarantee). Besides these securities, an insurance policy issued by the official Export Credit Agency or similar export facility institution in the exporter’s country may involve in. Importer's bank or Buyers Credit Consultant or importer arranges buyer's credit from international branches of a domestic bank or international banks in foreign countries. Buyer’s credit is always in the form of syndicated loan, which is provided by a group of lenders and is structured, arranged, and administered by one or several commercial banks or investment banks known as arrangers.