TRADE FINANCE AFRICA

AFRICA LC CONFIRMATION FEES AND CHARGE

LC CONFIRMATION FEES AND CHARGES FOR AFRICAN COUNTRIES

Confirmation fees are collected by the confirming banks as a compensation for the risks they are taking on the importer bank.

The fees and commissions under a letter of credit include many types of costs that may be partly borne by the person who gives the order (importer) or by the bank that notifies the letter of credit to the exporter.

The letter of credit applies costs to the exporter or seller that consists of three distinct types of fees:

  • Technical costs.

  • Confirmation fees of LC.

  • Discount fees.

  • Notification fees.

The technical costs include for the exporter:

  • Notification fees.

  • Document Verification Commission.

  • Modification fees.

  • Postage and SWIFT.

TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE