Letter of Credit
Letter of Credit, or LC, is offered by BML to make a payment to a named beneficiary (seller) within a specified time. The payment will be made once documents which comply strictly with the terms of the LC are presented.
Key Features
- Minimizes risk, maximizes control, and optimizes profits associated with international trade
- Expands your company’s business opportunities
- Eliminates the need to send cash to the supplier in advance
- Low commission for issuance of LCs
- Provides timely approval and issuance
- Creates efficiency and protection from loss
Commissions/Fees
| LC issuance commission per quarter | 0.35% |
| SWIFT charge | USD 50 |
| Minimum commission | USD 25 |
You can view the complete Schedule of Charges here.
How to Apply
Submit a LC Application Form to any of our branches along with the required supporting documents:
- Information Form for SME Banking Customers in case you have not submitted this form or information provided needs to be updated
- For corporate entities:
- Certificate of registration
- Memorandum of Association
- Articles of Association
- Latest share position
- Project details, feasibility and repayment capacity
- Security details
Need to contact a branch?
Find out the contact details of the branch closest to you.