Letter of Credit-i

Letter of Credit-<i>i</i>

When you need your seller to know that you have the financial means to import their goods, Al Rajhi Bank's Letter of Credit-i comes in useful. Often used in international trade to eliminate the risks associated with the importer's country, the Letter of Credit-i serves as concrete confirmation that your seller will receive payment for the goods or services imported by you.

EXPRESS LETTER OF CREDIT- i (fully secured against deposit account)

ONE DAY issuance for LC-i Letter of Offer with minimum supporting documents and ONLY ONE DAY to get your LC-i out, subject to completion of documentation.
Click Express LC-i Application Checklist for more details.

Re-issuance of Import Letter of Credit for transfer to second beneficiary, local or foreign.

TRADE SERVICES CUT-OFF TIMES TURNAROUND TIMES
Issuance of Letter of Credit (LC-i) - Imports
New / Amendment (Subject to applications received complete and in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
New Inward Bills under LC-i
- Document Checking
- Document Arrival Notice
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Inward Bills under LC-i
Acceptance (Subject to acceptance instruction received)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Inward Bills under LC-i
Payment (Subject to Payment Instruction received are in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
New Inward Bills for Collections (IBC-i)
- Document Arrival Notice 
- Acceptance  
(Subject to all documents received are in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Inward Bills for Collections (IBC-i)
Payments  (Subject to payment Instruction received are in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Exports – Advising/Confirming/   Transfer of Export LCs
(Subject to all  inward LCs received)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Export Collection under LC / Non LC (OBC-i)
-  Documents Examination
-  Bill Creation / Payment 
(Subject to documents received complete and in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Shipping Guarantees (SG-i)
New/Cancel
(Subject to application and documents received complete an in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Air Waybill / Bill of Lading Endorsement
(Subject to application and documents received complete an in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Banker’s Guarantees (BG-i) & Standby Letters of Credit (SBLC-i)
New / Amendment 
(Subject to application/request received are in order and comply to standard procedure)
By 12.00 pm  
Banker’s Guarantees (BG-i) & Standby Letters of Credit (SBLC-i)
Cancellation (Subject to applications received complete and in order)
By 12.00 pm  
Banker’s Guarantees (BG-i) & Standby Letters of Credit (SBLC-i)
Claim (All claims on BG to be processed within 7 business days from receipt date of letter of demand at TSD counter)
By 12.00 pm  
Trade Commodity Financing-i 
Purchase Commodity & Disbursement (Subject to application and documents received complete and in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Trade Commodity Financing-i 
Partial Settlement/ Early & Full settlement
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day
Bank Guarantee (BG-i) – Wakalah against Cash Margin
- New / Amendment  (Subject to application and documents received complete and in order)
By 12.00 pm To be processed on same day
After 12.00pm  To be processed next business day

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