
This is a payment undertaking given by the bank, to the overseas/domestic seller/supplier, which is issued on behalf of the importer/buyer. We shall effect payment upon presentation of required documents by the seller/supplier within a specified time frame, provided all terms and conditions of the letter of credit are complied with.
Features and benefits:
- benefits of letters of credit
What you need to get started:
- Application form
- Proof of identification either a driving permit, valid passport or identity card
- 2 Passport photos
- Audited accounts
- Registration certificate, Articles and memorandum of Association, resolution to borrow for companies, partnership deed for partnerships and minutes indicating a decision and authority to borrow for Associations
- You should hold an account with the Bank