Trade Services
Bank of Abyssinia’s International Trade Business, delivers Export and Import trade services with efficiency and operational excellence. We support your international trade business effectively by ensuring you get the trade services through the seamless import and/or export operational process flow with the standard.
Letter of Credit – LC
A documentary letter of credit is an undertaking a bank takes by the request of a buyer (applicant opened a letter of credit on request of a buyer (applicant) to pay an amount to the seller (beneficiary) as specified in the letter of credit upon the provision of documents by the seller (beneficiary) that meet the conditions of the letter of credit.
Service Features and Benefits
BoA’s has built a solid and professional relationship through the years with various banks internationally. As such its reputation, noticeably in payment assurance by beneficiaries and their banks is of highest regard.
How Does It Work? Import Letter ofCredit
An instrument issued by BoA in favor of a beneficiary (exporter) and on behalf of the applicant (importer). BoA commits to the payment of the transaction, provided that the exporter complies with the terms stipulated in the Letter of Credit.
Cash Against Document
Why complicate payment when you have BoA?
Documentary collection is a payment security method where an exporter’s bank collects from the importer’s bank in exchange for documents detailing shipped merchandise. Through this method, customers can allow BoA to act as a collection agent for payments of shipped goods to the buyer.
Service Features and Benefits
BoA offers all kinds of collection services allowed under National bank of Ethiopia – in essence; documents against payment and documents against acceptance. In addition to our amassed relations to different banks our well-built reliable business process affords us to serve our clients with impeccable trade operations.
How Does It Work? Import Cash against document
Is a trade transaction preceded by Purchase Order approval to importer; then in which exporter presents commercial and shipping documents as required to their bank and allow to act as a collection agent for payment from BoA; of shipped goods to the buyer.