Commitment from the Bank to pay the vendor on your behalf in the event of the arrival of goods and compliance with the agreed terms.
Letter of credit features
- Enables you to import from abroad without the need for cash.
- Ensures your goods arrival to be identical to the agreed terms.
- Internal regulations
- The company’s establishment contract with its right of borrowing, leverage.
- Copy of the company’s registration certificate that shows the shareholders’ names and the authorized signatories of the company.
- Copy of the company’s and authorized signatories’ IDs.
- Audited financial statements of the last two years.
- Account statement of the last 6 months from the Banks that was associated with “if available”
- Valid insurance policies on the goods or life insurance policies, if any.
- Clearance with the Income Tax Department