Import L/C

NCB will provide meticulous guidance, from L/C issuance to payment of goods to foreign entities, with competitive fees.

Target customers

  • Import companies in need of import L/C issuance at NCB.

Features

A Letter of Credit is a payment method in which the issuing bank, at the request of the applicant (importer), commits to pay a certain amount to the beneficiary (exporter) or accept a draft issued by the beneficiary upon receipt of documents presented in accordance with the terms of the Letter of Credit (L/C).

  • L/C issuance service.
  • Amendment of import L/C.
  • Cargo receipt guarantee/authorization.
  • B/L endorsement
  • L/C payment services.

Benefits

  • Help importers reduce capital pressure.
  • Capital funding made possible through waiver of L/C issuance commitment rates or via loans.
  • Advisory support on terms and reasonable amendments to ensure business interests.
  • Support enterprises through goods receiving procedures when full documentation is not yet available but only an original copy/copy of the B/L or the original copy of AWB is available.
  • Assists companies in processing documents to minimize payment risks.
  • Competitive fees.

Documents

  • Legal documents (for first-time customers).
  • Foreign trade contracts.
  • Other relevant documents, such as permits issued by the Ministry of Industry and Trade, quotas, etc. (if any).

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