ANGOLA LETTER OF CREDIT

ANGOLA LC ISSUING BANK CONFIRMING BANK CHARGES

ANGOLA LETTER OF CREDIT CONFIRMATION FEE

For Angola, when an exporter has concluded a commercial export contract with a Angolan 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 Angolan importer will ask the Angolan 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 Angola, the exporter must choose a confirming bank that has in its network of correspondents the Angolan 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 Angola is usually confirmed by a big number of banks which are prepared to take the risks of Angolan banks and make sure the beneficiary of the LC or exporter obtain his payment.

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

  • Banco Angolano de Investimentos (BAI)

  • Banco Economico, Banco de Fomento Angola (BFA)

  • Banco BIC Angola (BIC)

  • Banco de Poupança e Crédito S.A.R.L. (BPC)

  • Banco Nacional de Angola

  • Banco Angolano de Negócios e Comércio

  • Banco Comercial Angolano

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH ANGOLAN BANKS

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

ANGOLA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A ANGOLAN BANK

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

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