RWANDA LETTER OF CREDIT

RWANDA LC ISSUING BANK CONFIRMING BANK CHARGES

RWANDA LETTER OF CREDIT CONFIRMATION FEE

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

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

  • Bank of Kigali

  • I&M Bank Ltd

  • COGEBANQUE Ltd

  • KCB Bank Rwanda

  • Banque Populaire Du Rwanda

  • Ecobank Rwanda

  • Equity Bank Rwanda

  • Crane Bank Rwanda

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH RWANDAN BANKS

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

RWANDA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A RWANDAN BANK

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

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