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Letters of Credit

A Letter of Credit is a Letter issued by the Bank to another Bank (mainly one in a different country) to serve as a guarantee for payments made to a specified person under specified conditions. This facility is mainly applicable to overseas purchases.

Application Requirements

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National Identification Card, Valid Passport or Valid Driver’s License of all Directors

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TIN Certificate of Company

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Certificate of Incorporation or Business Registration

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Memorandum of Association or Articles of Association

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Annual Return (Previous two years)

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Audited Financial Statements (Previous three years)

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Business Plan / Application indicating purpose of financing

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Bank Statement from Current Bank (Minimum one year)

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Copy of Transport / Title of property offered as collateral

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Valuation of Property (To be done by an approved valuator by the Bank)

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