Letters of Credit

Secure your international trade transaction journey

Overview

A letter of credit (also known as documentary credit) is an irreversible undertaking or guarantee issued by BANK OF AFRICA at the request of an importer to make payment for goods to an exporter upon presentation of specified documents that comply with the terms and conditions set out in the sales agreement.

From an exporter’s perspective, the letter of credit transfers any payment or transaction associated risk from the importer to BANK OF AFRICA. It is the most reliable and secure way for importers and exporters to protect their trading interests and minimize their respective risks in a trade transaction.

ELIMINATE PREPAYMENTImprove payment terms with your supplier and ease pressure on your working capital
StructureTailor-made credit structure according to your business cycle
Flexible PlanFlexible and affordable repayment periods up to 180 days
ANNUAL LIMITSAnnual financing limits available to reduce delays in processing of your recurring trade finance requests
TAILOR-MADE STRUCTURETailor-made credit structure according to your business cycle
QUICK ProcessingThere when you need it. No delays

What You Get

  • Securely enter a trade by reducing certain risks, such as goods arriving late or not meeting specifications
  • Access financing to purchase goods in a way that matches up with your domestic cash flow requirements
  • Free up available working capital by negotiating more favorable commercial terms with suppliers and benefit from prepayment elimination
  • There when you need it. No delays. Enjoy flexibility allowing access to funds when you need them most matched to your specific trade flows
  • Contact us today and explore our tailor-made and affordable credit pricing options

Download our services and products pricing guide for more information.

Ways To Apply

OPEN A Corporate AccountFill out your secure corporate account application in under 20 minutes to get started today
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Online
Book an appointmentMeet with one our Relationship Managers at a branch, your office or virtually to discuss your credit needs
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Call UsReach our Service team now to get quick help in signing up for our services
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