ALGERIA LETTER OF CREDIT

ALGERIA LC ISSUING BANK CONFIRMING BANK CHARGES

ALGERIA LETTER OF CREDIT CONFIRMATION FEE

For Algeria, when an exporter has concluded a commercial export contract with a Algerian importer and the two parties do not know each other, the irrevocable and confirmed letter of credit is the most appropriate instrument to mitigate the risks.

The Algerian importer will ask the Algerian bank to issue a letter of credit for the benefit of the exporter who will have previously named the name of the notifying and confirming bank to be accepted by the exporter.

For Algeria, the exporter must choose a confirming bank that has in its network of correspondents the Algerian bank that is proposed by the importer but also the one that has an acceptable credit rating so that there is no default of payment from the confirming bank.

A letter of credit issued in Algeria is usually confirmed by a big number of banks which are prepared to take the risks of Algerian banks and make sure the beneficiary of the LC or exporter obtain his payment.

LIST OF ALGERIAN BANKS ISSUING LETTERS OF CREDIT AND WHICH ARE ACCEPTED BY THE BANKS OF EXPORTERS

  • Banque Extérieure d’Algérie (BEA)

  • Banque Nationale d’Algérie (BNA)

  • Banque de Développement Local (BDL)

  • Banque de l'Agriculture et du Développement Rural (BADR)

  • Banque Al Baraka d’Algérie

  • Citibank N.A Algéria

  • Al Salam Bank - Algeria

  • Gulf Bank Algérie

  • Trust Bank - Algeria

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH ALGERIAN BANKS

Banks which are confirm the letters of credit issued in Algeria by Algerian banks are: (please contact us to obtain the list or to be listed as confirming bank).

ALGERIA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A ALGERIAN BANK

Confirmation charges and fees for letters of credit issued through Algerian banks can be obtained on demand by emailing: info@tradefinance.africa.

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