We offer a comprehensive range of import services. As a valued client of NIB Bank, you will be partnering with a trusted banking institution that is highly respected in the world of international finance and cross border transactions.
Through our expertise and experience, we can structure and customize solutions suited to your specific business requirements.
Letter of Credit
Commercial Banking issues Import Letters of Credit on your behalf that gives you the advantage with your suppliers. We extend Sight Letter of Credit (DP) and Usance Letter of Credit (DA) facilities to your clients for undertaking transaction for the import of goods. Letter of Credit is widely used to give protection to the exporter against the buyer’s and the country’s risk. At NIB the LC is a payment undertaking given to the exporter by the importer’s bank. In effect, NIB backs the transaction with its own credit standing and reputation. We offer our customers a binding payment undertaking to pay the seller, provided that the seller can present documents representing the goods supplied.