Letter of Credit

Definition

We provide you with a Letter of Credit (LC) issued by the bank upon your request for the advantage of the beneficiary that you deal with in the scope of foreign trade, including import and export of goods.

Under the LC, the bank is obligated to pay within the limits of a specified amount, within a certain period, so that it is irrevocable, and thus establishes a written commitment to the issuing bank to pay, provided that submitted documents must conform to the terms and deadlines of the credit.

The Letter of Credit provided through the bank includes several types, such as: Sight Letter of Credit, Deferred Payment LC, and Standby Letter of Credit.

Eligible Persons

• Owners of companies and projects wishing to enter into foreign trade operations (import and export) of goods.
• Entrepreneurs and pioneers in charge of SMEs, including businessmen and women, specialized professionals, and administrators.

Conditions

Subject to the terms and conditions of the bank, in addition to the general conditions that govern the work of LCs.

Advantages

• ahli Bank issues multiple types of LC, in order to meet your needs and preferences.
• The bank meets competitive rates for the issuance of LCs.
• The bank finances the payment of LCs according to the terms of the required credit.
• Benefit from ahli bank's global network throughout the globe.
• Competitive cash insurance is required, according to the degree of the customer’s risk, the credit risk, and the intensity and span of the relationship with the bank.
• Requests for issuing LCs are approved and executed within limited period of time.
• Simple work procedures and documentation for LCs.
• Flexibility of use of various commercial commodities according to the policies and procedures adopted by the Bank.
• Allocating the relevant product according to the required financing needs.

Required Documents

• Bank statement for the last year.
• Financial statements for the last two years at least.
• A recent and valid registration certificate.
• A recent and valid professions and trades license.
• Other documents required by company type.

* Subject to the Bank’s terms and conditions.