Confirmations of Letters of Credit (L/C) & Letters of Guarantees (L/G)

NLBI offers confirmation of a sight or a deferred payment letter of credit (documentary credit) or letter of guarantee. This represents an irrevocable undertaking by NLBI to pay at maturity of the L/C or L/G amounts owned by the importer to the exporter in case the opening (importer’s) bank or the obligor do not effect payment in accordance with the terms of the underlying commercial transaction.