Letters of Credit

Letters of Credit

Letters of credit are a secure method of payment, used in both international and local trade, enabling buyers to secure a period of credit before settling through undertaking to make payment at a later date upon verification of specified documents.


  • This is a written undertaking by Family Bank at the request of its customer, typically the applicant


  • Provides secure method of payment in international trade and the buyer is able to get a period of credit before having to pay for imports


  • An import letter of credit facility or cash margin
  • Duly filled and signed Family Bank application form
  • Pro-forma invoice
  • Copy of an import declaration form (IDF)
  • Insurance, if cover is being provided by the buyer
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