Letters of Credit

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

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