Trade and Treasury

Letters of Credit

A letter of credit is issued by banks so as to enable easier trade. A bank issues a Letter of Credit or LC confirming that a payment will be made for goods and services upon the completion or fulfilment of certain pre-agreed conditions. Usually an LC is issued by the importer to the exporter through their respective banks.

Features

  • Have sufficient funds on behalf of the customer
  • Presentation of an import license duly validated by a local commercial bank
  • Meet at our counters the request to open a letter of credit

Benefits

  • Opening of the letter of credit through our correspondent banking network on the day of filing of the application at our counters
  • Confirmation by our correspondent & notification to the supplier the day following the opening of the letter of credit
  • Management and strict compliance with the terms of the letter of credit
  • Meet at our counters to request the opening of a letter of credit.

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