Documentary Credit

6 good reasons to choose us

BANK OF AFRICA's Documentary Credit is both a convenient and reliable solution to guarantee and secure your transactions with foreign partners for import or export.

The way to ensure that the goods have been shipped
Verification of shipping documents and their compliance by experts
A solution that gives you the certainty to receive your payment
Better cash flow management with payment dates known in advance
A commercial advantage that allows you to negotiate attractive prices and deadlines
The possibility to benefit from an advance on your shipment up to 100% of its value

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It meets the requirements of companies wishing to protect themselves against any risk or failure related to international commercial operations. This solution is therefore intended for companies carrying out import or export transactions.

Through the Documentary Credit, BANK OF AFRICA undertakes on behalf of its importing customer, to pay a third-party exporter, according to the terms of the contract and against delivery of documents, in accordance with the terms of the Documentary Credit. These documents provide evidence of the value and shipment of the goods or services.

On export, this solution offers a guarantee of payment for your exports, provided the documents are compliant, and can take two forms:

Non confirmed irrevocable credit: a firm and definitive commitment that cannot be questioned;
Confirmed Irrevocable credit: a double bank commitment from both the foreign bank and BANK OF AFRICA.

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