This is a payment undertaking given by the bank, to the overseas / domestic seller / supplier, which is issued on behalf of the importer or buyer.

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A letter of credit (also known as documentary credit) is an irreversible undertaking or guarantee issued by HFB at the request of an importer to make payment for goods to an exporter upon presentation of specified documents that comply with the terms and conditions set out in the sales agreement.

From an exporter’s perspective, the letter of credit transfers any payment or transaction associated risk from the importer to HFB. It is the most reliable and secure way for importers and exporters to protect their trading interests and minimize their respective risks in a trade transaction.


  • Ability to transact through a third party
  • Unlimited access to the account
  • Access to other bank products and services including loans


  • 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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