A Letter of Credit (LC) is a conditional but irrevocable undertaking issued by Tsedey to the exporter at the request of the importer to effect payment up to a stated amount within a stated time period against presentation of compliant documents. The Letter of Credit is governed by the ICC rules defined in Uniform Customs Practice (UCP) 600, NBE Directives and the Bank’s Policies and Procedures
An export letter of credit is an instrument issued by a foreign bank on behalf of its importing customer favoring an exporter who is customer of Tsedey Bank.
Foreign Bank Guarantees
Tsedey Bank processes Incoming and Outgoing foreign bank guarantees as per the customers’ needs