Letters of Credit
Letter of Credit is a commitment given by SBI SA on behalf of the applicant (Buyer) to make payment to the beneficiary (supplier) subject to presentation of documents strictly in conformity with the terms of the credit.
SBI SA undertake all activities relating to L/C such as Issuance, Advising, Confirmation, Negotiation and Collection to meet the end-to-end requirements of clients engaged in international trade.
Import Letter of Credit
SBI SA issue Import LCs on behalf of customers (buyers) favouring overseas exporters (sellers) guaranteeing payment on fulfilment of the terms and conditions of credit.
Export Letter of Credit
SBI SA also advise L/Cs received from another Bank to the beneficiaries either directly or through their Bankers.
By adding confirmation on Letter of Credit, SBI SA take care of payment risks relating to overseas buyer, L/C issuing bank and other risks associated with the country of issue of letter of credit.