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Indirect Trade Facility Indirect Trade Facility

Indirect Trade Facility

A group of commercial services (facilities) provided to the importers, exporters and contractors sector

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The bank provides all commercial services to the importers, exporters and contractors sector including:

Inward letter of Credit
An undertaking issued by the correspondent bank to pay a certain amount of money to the beneficiary in the event of submission of documents conforming to the conditions of the LC.

Outward letter of Credit
This service enables the customer to pay the value of his imports from abroad in a safe manner and the bank undertakes to benefit the third party (beneficiary) at the request of its client (the applicant for opening the LC) to pay, either by review or a future date in return for submitting documents conforming to the LC conditions.

Bills of collection 
A service granted to whom works in the field of import and export such as institutions and companies to pay the value of their imports against a set of commercial documents delivered by the exporter to his bank to be sent to a correspondent bank in the importing country. Which shows the shipment of a quantity of goods from the exporting country to the importing country in implementation of the agreement between the exporter and importer. The correspondent bank collects it from the importer and transfers the value to the issuing bank and then to the issuer.


Letter of Guarantee
In this service, the bank undertakes to guarantee a certain person called the guaranteed who undertakes a certain action for a third party called the Beneficiary of the Guarantee and this service helps to fulfill the requirements of contracts and tenders. In addition, it requires signing the application of issuing the guarantee and the conditions and providing the required provision insurance and determine the wording and duration of the guarantee.