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Letter of Credit

Letter of Credit

A Letter of Credit (LC) is a written irrevocable undertaking issued by the Bank, to a supplier of goods or services at the buyer’s request, to effect payment up to a stated amount, within a stated time, against presentation of specified documents which comply with the terms of the Credit

How it works
  • This is a written undertaking issued by us at your request as an importer/buyer.
  • It is issued in favour of the exporter/seller, agreeing to pay the exporter/seller, for the buyer's (our customer) goods, subject to certain terms and conditions being met.
How to get it

Visit your nearest Stanbic Bank branch with the following documentation:

  • Audited financial statements.
  • Management accounts
  • Cash flow forecast for the term of the facility
  • Business Profile
  • Completed application form
  • Certificate of Incorporation
  • Memorandum & Articles of Association
  • Tax Clearance Certificate
  • How it works
  • How to get it
  • What it costs
  • This is a written undertaking issued by us at your request as an importer/buyer.
  • It is issued in favour of the exporter/seller, agreeing to pay the exporter/seller, for the buyer's (our customer) goods, subject to certain terms and conditions being met.

Visit your nearest Stanbic Bank branch with the following documentation:

  • Audited financial statements.
  • Management accounts
  • Cash flow forecast for the term of the facility
  • Business Profile
  • Completed application form
  • Certificate of Incorporation
  • Memorandum & Articles of Association
  • Tax Clearance Certificate