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Letter of Credit (LC)
Payment undertaking by the Bank in favour of your seller against presentation of compliant documents stated in LC.
Features
Assurance of payment to your local or international suppliers.
May be issued to your suppliers worldwide in all major currencies.
Payment terms vary depending on arrangement between you and your seller.
Benefits
Credibility and Trust
Improve buyer's credibility and trust from suppliers.
Protect Buyer's Interest
Able to determine the terms and conditions to protect buyer's interest.
Compliant Documents
Bank will only honour the payment upon presentation of compliant documents.
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A guarantee issued by the Bank to shipping company or agent on behalf of importers for clearance of purchased goods in the absence of the original Bill of Lading.
Handling of foreign and domestic inward collection documents for buyer/importer based on settlement term agreed with supplier/exporter.
An undertaking by the Bank to pay an agreed sum to the beneficiary in the event that the Guarantee's applicant fails to perform its obligations.
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