Medium and Large Enterprise
A letter of credit is a financial instrument of payment under which the buyer's bank pays a certain amount to a seller through his bank, within a fixed term, against commercial documents.
A bank guarantee is a form of documentary obligation of the buyer's bank to pay an agreed amount (according to the prepayment, invoice, contract signed between the seller and the buyer) if the buyer fails to meet the obligation to the seller.
For types and fees of letter of credit and guarantee you are kindly requested to take a look Terms and Conditions.
For more information, please contact Lending Division of American Bank of Investments.
Our specialized staff will be at your disposal.