For Republic of the Congo, when an exporter has concluded a commercial export contract with a Congolese Brazzaville 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 Congolese Brazzaville importer will ask the Congolese Brazzaville 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 Republic of the Congo, the exporter must choose a confirming bank that has in its network of correspondents the Congolese Brazzaville 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 Republic of the Congo is usually confirmed by a big number of banks which are prepared to take the risks of Congolese Brazzaville banks and make sure the beneficiary of the LC or exporter obtain his payment.
LIST OF CONGOLESE BRAZZAVILLE BANKS ISSUING LETTERS OF CREDIT AND WHICH ARE ACCEPTED BY THE BANKS OF EXPORTERS
La Congolaise de Banque
Banque Commerciale Internationale (BCI)
Bangue Postale du Congo (BPC)
Crédit du Congo (CDC)
BGFIBank Congo (BGFI)
CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH CONGOLESE BRAZZAVILLE BANKS
Banks which are confirm the letters of credit issued in Republic of the Congo by Congolese Brazzaville banks are: (please contact us to obtain the list or to be listed as confirming bank).
REPUBLIC OF THE CONGO: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A CONGOLESE BRAZZAVILLE BANK
Confirmation charges and fees for letters of credit issued through Congolese Brazzaville banks can be obtained on demand by emailing: email@example.com.
TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE