It is important...
- To facilitate and settle international and local commercial transactions
- For coverage against diverse international transactions' risks
- As a universal tool that can be used worldwide, for all types goods and services, and for all amounts
Several commitments undertaken by SGBL
- LETTER OF CREDIT FOR IMPORT : Grantees to the supplier his payment within the predefined time frame and to the importer a maximum control over documents, deadlines, means of conveyance and channels used, etc.
- LETTER OF CREDIT FOR EXPORT : Secures exports by eliminating the financial risk of the importer
- STANDBY LETTER OF CREDIT : Grantees the supplier the settlement of the specified payment amount in case the importer fails to fulfill the settlement obligations, particularly in the case of successive and renewed deliveries.
- BACK TO BACK CREDIT: Is used when the DOCUMENTARY CREDIT is not transferable, or when the first beneficiary fails to respect the purchase contract conditions
How to proceed to a LETTER OF CREDIT? Visit any SGBL Branch:
- Sign a request to initiate a LETTER OF CREDIT reflecting the commercial contract terms signed between the seller and the buyer (LETTER OF CREDIT FOR IMPORT)
- Receive a notification of the credit opened in your favor (LETTER OF CREDIT FOR EXPORT).