SIERRA-LEONE LETTER OF CREDIT

SIERRA-LEONE LC ISSUING BANK CONFIRMING BANK CHARGES

SIERRA-LEONE LETTER OF CREDIT CONFIRMATION FEE

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

LIST OF SIERRA-LEONEAN BANKS ISSUING LETTERS OF CREDIT AND WHICH ARE ACCEPTED BY THE BANKS OF EXPORTERS

  • Sierra Leone Commercial Bank

  • Rokel Commercial Bank

  • Segbwema Community Bank

  • National Development Bank Limited

  • First International Bank of Sierra Leone

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH SIERRA-LEONEAN BANKS

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

SIERRA-LEONE: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A SIERRA-LEONEAN BANK

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

TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE