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Letter of credit one-off with 0 issuing fees

Letter of credit one-off with 0 issuing fees

​A Letter of Credit or L/C is a written undertaking by a bank (issuing bank) on behalf of an importer (the customer) that payment will be made for goods or services supplied by an exporter (the beneficiary) provided that the exporter complies with all the terms and conditions established by the credit.

​ Advantages

  • Bank Albilad gives you the quick issuance of Letter of credit to help you meet your deadlines.
  • Issuing Letter of credit to or from your business partners at the local and international levels.
  • Issuing letter of credit in compliance with the Sharia requirements.
  • Issuing 100% cash margin import letters of credit without issuing fees

Terms and conditions

  • Commercial registration.
  • National ID/Iqama.
  • The applicant must have an account at Bank Albilad.
  • Filling the letter of credit application form.
  • Depositing the amount (the letter of credit value) in the account.
  • Initial invoice (If available). 
  • The offer is valid until September 30, 2024.
To view the terms and conditions click here
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Trade operations centers

We are delighted to welcome and assist you at our trade operations centers, open from Sunday to Thursday, 9:00 AM to 5:00 PM.


City

District Location
RiyadhAl Mutamarat

JeddahAr Rabwah

DammamAl Safa

​FAQ


Does the offer include all kinds of LC?

The offer includes the 100% cash margin import letters of credit.

Is there a management fees or any other fees?

No.

What are the requirements for issuing the letter of credit?

An account at Bank Albilad, filling out the letter of credit application form, Depositing the amount (the letter of credit value) in the account, and an initial invoice (if available). 

Is it possible to cancel the letter of credit?

The letter of credit will be canceled if all parties agree.

Is it required to open an account at Bank Albilad to issue the LC?

Yes.

Where I could apply for the letter of credit?

From the bank branches, trade operation centers.

Are there no fees for editing the Letter of credit?

In case of requesting to amend the letter of credit, there are fees for editing it.

Is sending the letter of credit via SWIFT exempt from fees?

Yes.

Is there a minimum or maximum value for the letter of credit without fees?

No, there is no limit.

How long will it take to issue the letter of credit?

The letter of credit will be at the same day after receiving the application form.

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All Rights Reserved © 2024 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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