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Trade Finance
Letters of Credits

LC is any arrangement, however named or described, that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honor a complying presentation.

In other words is a written undertaking by a bank (the issuing bank), at the request of the importer/buyer (the applicant), in favor of an exporter/seller (the beneficiary), whereby the bank agrees to pay against bills of exchange and/or commercial documents that comply with the terms and conditions of the LC.

Types of LC offered by Amana Bank
  • Irrevocable letters of credit
  • Confirmed letters of credit
  • Transferable letters of credit
  • Irrevocable, confirmed and transferable letters of credit
Payment modes are
  • At Sight
  • Tenor



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