North Bank

Letters Of Credit

LATTERS OF CREDITS

North Bank has a proven track record of special relations with customers from companies and organizations inside and outside of Iraq in various sectors of work seeking to provide all commercial services for importers and exporters, which fit their needs whether from private, governmental or quasi-governmental institutions, so it is also keen to provide a full range of outstanding international banking services in the highest levels of efficiency in the areas of foreign trade through the following: LATTERS OF CREDITS

Documentary credits represents a financial credit pledged issued by a bank at the request of the buyer (importer), this bank guarantees the payment of the goods amount of the exported items to the seller (source), after making sure the implementation of the agreed terms contained in the credit letter. The documentary credit includes usually a a description of the seller and identification of the required documents and records to be submitted upon the payment and the date of shipment of the goods and the duration of credit. So the documentary credits are an effective way to reduce the risk of international trade for both parties (buyer and seller).The details of the executed credits by the bank according to the years are shown by the table below:

Please see the form below and make sure of the accuracy of the required information before delivery.

Credit form