Why need the Letter of Credit ?

Letter of credit is issued by Bank of Kigali upon the request of the customer (applicant/importer) where the Bank promises to pay for goods and services of the beneficiary/exporter.
  • Payment is guaranteed by both the issuing bank and the confirming bank as long as compliant documents are presented.
  • Allows access to other products e.g. invoice discounting
  • Ensures delivery is done within schedule
  • Letter of request
  • Copy of ID or passport
  • Financial statements for the last 2 to 3 years depending on the business
  • Proformas with description of goods and amounts
  • Details of the beneficiary’s bank