For South-Sudan, when an exporter has concluded a commercial export contract with a South-Sudanese 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 South-Sudanese importer will ask the South-Sudanese 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 South-Sudan, the exporter must choose a confirming bank that has in its network of correspondents the South-Sudanese 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 South-Sudan is usually confirmed by a big number of banks which are prepared to take the risks of South-Sudanese banks and make sure the beneficiary of the LC or exporter obtain his payment.
LIST OF SOUTH SUDANESE BANKS ISSUING LETTERS OF CREDIT AND WHICH ARE ACCEPTED BY THE BANKS OF EXPORTERS
Buffalo Commercial Bank
Mountain Trade and Development Bank
Nile Commercial Bank
Eden Commercial Bank
Cooperative Bank of South Sudan
Charter One Bank South Sudan
CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH SOUTH SUDANESE BANKS
Banks which are confirm the letters of credit issued in South-Sudan by South-Sudanese banks are: (please contact us to obtain the list or to be listed as confirming bank).
SOUTH SUDAN: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A SOUTH SUDANESE BANK
Confirmation charges and fees for letters of credit issued through South-Sudanese banks can be obtained on demand by emailing: email@example.com.
TRADEFINANCE.AFRICA COUNTRIES OF EXPERTISE