Utility ToolsLetter of Credit
The safest method of payment when dealing with new suppliers or where there is no trust between parties across borders. A Letter of Credit is a written undertaking given by a bank (Stanbic Bank), at the request of a buyer (applicant) to pay the seller (beneficiary) of goods that conform to the specified terms and conditions within a prescribed period.
What does it offer me?
- Letter of Credit facilitate international trade transactions by protecting the interests of both the buyer and seller.
- Applicant is guaranteed goods from the supplier through a title document.
- Beneficiary is guaranteed payment if goods comply with documents.
What do I need to apply?
- Pro forma invoice or sales contract
- Filled in Letter of Credit application form (Provided by the Bank)
ATM and Branch Locator
Contact us
Careers
