LIBERIA LETTER OF CREDIT

LIBERIA LC ISSUING BANK CONFIRMING BANK CHARGES

LIBERIA LETTER OF CREDIT CONFIRMATION FEE

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

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

  • Global Bank Liberia

  • Liberian Bank for Development and Investment

  • G N Bank (Liberia)

  • First National Bank Lesotho

  • Ecobank Liberia

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH LIBERIAN BANKS

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

LIBERIA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A LIBERIAN BANK

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

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