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Individual Business


Letter of credit

Helping you build safe financial national and international partnerships

International business opens up a lot of opportunities but can be challenging. You need to know and understand the terms and conditions of the transaction and how you can protect your financial interests.

TEB has long-standing and extensive experience in international trade – as being part of the IFC Program-International Finance Corporation, member of World Bank Group,  and have a network of no less than 130 corresponding banks around the world.

Our range of products and services to support your international trade, all provided at very reasonable and flexible terms, is extensive.

TEB offers a full range of payment tools to facilitate international trade.

In the documentary credit process, the Bank deals only with documents but not with goods, services or performance to which the document may relate - payments are made only against documents that are in compliance with LC terms.

Letter of Credit for Import

This type of letter of credit (LC) can be simply defined as a conditional guarantee of payment made by a bank to a named beneficiary, guaranteeing that payment will be made, provided that the terms of the credit are met. In this way it secures both parties involved in the transaction. The seller is guaranteed that payment will be made, and at the same time the buyer is ensured that goods will be delivered as specified in the contract.

Letter of Credit for Export

This type of letter of credit assures that the seller will receive payment provided that the seller complies with all of the terms, conditions and requirements, associated with presenting documents to the Issuing Bank.

Letter of Credit ‘’Stand By’’

This type of letter of credit is very similar in nature to a Bank guarantee. It is payable upon first written demand, and it allows the beneficiary to obtain payment from a Bank if applicant fails to meet his obligation.


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