These are designed to facilitate trade enhancing relationships with your suppliers through efficient document processing and timely payments, while still protecting your rights.
An LC serves as a guarantee of payment to the seller that after he provides the required documentation payment will be made. We issue an LC’s on behalf of our customer (buyer/ importer), assuring payment to a seller of goods and/or services, provided that the specified complying commercial documents are presented to the Bank/s.
The LC is also used to ensure that all the agreed upon standards and quality of goods are met by the supplier since LC’s have defined terms and workability which are acceptable internationally. Payment is only done after shipment and presentation of compliant documents are examined by the bank thereby eliminating the risk of an importer not receiving the specified goods.
With our knowledgeable team of Trade Finance experts at hand, we are able to guide the customer on their transaction from end to end.