The First Capital Bank Letter of Credit facility allows our customers (or imports) to offer secure payment terms to their suppliers or exporters abroad, while simultaneously ensuring the prompt delivery of the goods and services they require. We offer our import clients the facility of opening both confirmed and unconfirmed Letters of Credit depending upon their needs. Additionally, we also arrange for confirmation of Letters of Credit by a range of world-class international banking institutions.
Functions of the Letter of Credit
Letters of credit are typically provided within 48 hrs, guaranteeing payment by the confirming First Capital Bank branch. This benefit is especially valuable when a client is located in a potentially unstable economic environment.
Letters Of Credit available from First Capital Bank
✅ Payment is guaranteed by both the issuing bank and the confirming bank as long as compliant documents are presented.
✅ Mitigates the buyer/country risks
✅ Can allow multiple/continuous shipments, with quality of products and price guaranteed by an independent pre-shipment inspection company
✅ Allows access to other products e.g. pre-shipment finance and structured finance
✅ Ensures delivery is done within schedule and assures timely payment to seller/exporter