TOGO LETTER OF CREDIT

TOGO LC ISSUING BANK CONFIRMING BANK CHARGES

TOGO LETTER OF CREDIT CONFIRMATION FEE

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

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

  • Orabank Togo

  • Ecobank Togo

  • BSIC Togo

  • Banque Internationale pour l’Afrique au Togo (BIAT)

  • Banque Togolaise pour le Commerce et l'Industrie

CONFIRMING BANKS FOR LETTER OF CREDIT ISSUED THROUGH TOGOLESE BANKS

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

TOGO: CONFIRMATION FEE FOR LETTER OF CREDIT FROM A TOGOLESE BANK

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

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