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:
Confirmation fees of LC.
The technical costs include for the exporter:
Document Verification Commission.
Postage and SWIFT.
TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE
LC FEE AND CHARGE UCP 600 TEXT LC DISCOUNT BACK TO BACK LC STANBY LETTER OF CREDIT DOCUMENTARY COLLECTION BILL DISCOUNTING PROMISSORY NOTE DISCOUNTING BID BOND PERFORMANCE BOND ADVANCE PAYMENT BOND MAINTENANCE BOND ALGERIA ANGOLA BENIN BOTSWANA BURKINA FASO BURUNDI CABO VERDE CAMEROON CENTRAL AFRICAN REPUBLIC CHAD COMOROS DRC CONGO REPUBLIC OF THE CONGO IVORY COAST DJIBOUTI EGYPT EQUATORIAL GUINEA ERITREA SWAZILAND ESWATINI ETHIOPA GABON GAMBIA GHANA GUINEA BISSAU KENYA LESOTHO LIBERIA LIBYA MADAGASCAR MALAWI MALI MAURITANIA MAURITIUS MOROCCO MOZAMBIQUE NAMIBIA NIGER RWANDA SAO-TOME AND PRINCIPE SENEGAL SEYCHELLES SIERRA-LEONE SOMALIA SOUTH-AFRICA SOUTH-SUDAN TANZANIA TOGO TUNISIA UGANDA ZAMBIA ZIMBABWE GUINEA CONAKRY SUDAN NIGERIA BLOCKCHAIN TRADE FINANCE