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BLC Bank

Letters of credit

  • Description
    Maximum Amount
    Value Proposition
    Reasons for Rejection
    Types of LC
      • A bank letter guaranteeing buyer’s payment will be received by the seller with the correct amount and at the specified time. This facility is often used in international transactions to ensure buyer will receive the goods with the characteristics requested and seller will receive his/her money upon delivery A letter of credit has become an important aspect of international trade because of the nature of international dealings, such as distance, different laws among countries and difficulty of knowing the other party.

      • Assessed on a case by case basis

        • Consultancy Services provided by our trade finance team
        • Speed of process from the opening till the receipt of goods

      • Internal assessment of the Bank

      • Import Letter of Credit

        A bank guarantee which is given to the importer in the local country (buyer) to pay for a specific shipment under the submission of required documents by the exporter, within a specified time period

         

        Export Letter of Credit

        A bank guarantee which is given to the exporter in the local country (seller) to ensure that your company is paid for a specific shipment

         

        Standby Letter of Credit

        A bank guarantee which is given to the seller that payment will be done even if the buyer defaults to pay the bank would be responsible for it

        This type is mostly used when there is an established relationship between the buyer and the seller, upon which the documentation technicalities would complicate, and this LC can be used as a last resort in case of default

         

        Transferrable Letter of Credit

        A bank guarantee to the supplier who is an intermediary one; this guarantee can be transferred to one or more actual suppliers

        This is mostly used when the original supplier has other beneficiaries until the product reaches to the final buyer

         

        Back to Back Credit

        A bank guarantee in which export LC becomes a collateral over an import LC 

         

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