Export Letters of Credit

Export Letters of Credit

Secure your receivables by ensuring compliant documents.
Export Letters of Credit facilitates settling trade payments through letters of credit issued in your favor by a local or an Overseas Bank. We assist in thorough document scrutiny, processing of LC Documents and collecting payment under the LCs, in addition to adding confirmation to the LC if requested.

  • Minimize credit risk (Buyer / Bank / Country, etc.)
  • Assures Payment against LC complying documents
  • Enables the beneficiary to access trade funding solutions to improve cash flow

Please complete the form below and we’ll call you as soon as possible:

Existing or New Riyad Bank Client *
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Title is required
Requester Name required
Requester Mobile required Invalid mobile number e.g.: 966569876765
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Please complete the form below and we’ll call you as soon as possible:

Existing or New Riyad Bank Client *
Required existing or new client
Company / Establishment Name required
Company Identification required
Company Identification number required Invalid identification number
Turn over required
Company City required
Title is required
Requester Name required
Requester Mobile required Invalid mobile number e.g.: 966569876765
Refresh
Verification required Invalid verification code
 
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Our team will be glad to serve you from 9am till 4:30pm, Sunday through Thursday.

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Overview

Export Letter of Credit is an instrument issued by the bank in favor of the supplier or the exporter on behalf the buyer or the importer, promising to pay the beneficiary after submitting the required documents and meeting the Letter of Credit terms as per underlying contract.

  • Payment under the Letter of Credit may be made available to the beneficiary by Sight payment, deferred payment, acceptance (of drafts of documents) or negotiation*
  • Possibility of prepaying you export bills (post acceptance or otherwise) at competitive rates of interest to speed up your cash flow
  • Adding independent confirmation to the Letter of Credit, so that in case any non-payment risk from the issuing bank of country of import you can get your export proceeds from the confirming bank.

Negotiation is the purchase/prepayment by the nominated bank of drafts (drawn under the letter of credit on a bank other than the nominated bank) and/or documents under a complying presentation, by advancing or agreeing to advance funds to the beneficiary on or before the banking day on which reimbursement is due to the nominated bank from the LC issuing bank.