TANZANIA LETTER OF CREDIT

TANZANIA LC ISSUING BANK CONFIRMING BANK CHARGES

TANZANIA LETTER OF CREDIT CONFIRMATION FEE

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

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

  • BancABC

  • Bank M

  • CRDB Bank

  • Exim Bank

  • Peoples Bank of Zanzibar

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH TANZANIAN BANKS

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

TANZANIA: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A TANZANIAN BANK

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

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