GAMBIA LETTER OF CREDIT

GAMBIA LC ISSUING BANK CONFIRMING BANK CHARGES

GAMBIA LETTER OF CREDIT CONFIRMATION FEE

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

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

  • Guaranty Trust Bank Gambia

  • Arab Gambia Islamic Bank

  • FiBank Limited.

  • Polaris Bank Gambia

  • ECOBANK Gambia

  • Trust Bank Gambia

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH GAMBIAN BANKS

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

GAMBIA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A GAMBIAN BANK

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

TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE