The Bank AlJazira commercial services products and solutions focus on your businesses’ needs in the import, export and contract implementation fields. Our commercial services products and solutions include opening letters of credit, issuing letters of guarantee, enhancing the credit documents, and collecting the letters of credit, while focusing on e-channels for providing banking services in real time, allowing customers to view all the transactions and the status of their entire accounts at any time and from anywhere.
Letters of Bank Guarantee
Shipping Letter of Guarantee:
This letter will be issued at the customer’s request if the goods arrive at the port, while the original documents are delayed. The Issuing Bank undertakes to place the original bill of lading upon its arrival at the disposal of the carrier of the goods; in exchange for recovering the shipping letter of guarantee from him. The carrier will be exempt from any liability resulting from the delivery of the goods to the importer, who in turn pledges to the Issuing Bank to guarantee the acceptance of the documents upon their arrival, regardless of any differences therein.
Letters of Credit
To promote the trust and peace-of-mind between the (local or international) importers and suppliers in their dealings with each other, reduce the risks associated with exchanging letters and conducting financial transactions, and verify their compatibility with the Letter of Credit conditions.
It is used as a substitute for the letter of credit and often between the suppliers and exporters, who have an established business relationship among each other; i.e. operations for the exchange of goods / commodities by creating commercial papers that must be collected according to the agreed deadlines.
For more information, please contact us via toll free number 800 244 9090, or you may Request a meeting or call with Relationship Manager