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