Letter of Credit (LC)
Alawwal can help you and your suppliers mitigate the risks of international trade. We verify all documents before releasing payments. We also substitute our own undertaking on behalf of the importer to pay for goods or services, within a prescribed period and against compliant documents.
Documentary Collections – Import
Import Bills for Collection are an alternative way to facilitate your import transactions. Your supplier presents his documents with instructions to his bank, who forwards these to us for payment or acceptance. We then let you know when we have received the documents so you can instruct us on payments to be made. An Import Bill for Collection is ideal for long-standing trade relations between an importer and exporter.
Types of documentary collection:
- Documents against payment (D/P): import documents released on payment.
- Documents against acceptance (D/A): import documents released against a promise to pay on an agreed future date.
- Avalization of a Bill of Exchange/Promissory Note (Acceptance Pour Aval): the addition of the collecting and/or presenting bank's name to the bill of exchange/promissory note with the intention of guaranteeing payment at maturity. Avalization involves a direct liability on the part of the bank guaranteeing the payment.
We understand that your imported goods need to be cleared as quickly as possible. If your goods arrive before the shipping documents have been processed, we can issue a shipping guarantee that lets you take possession of goods without having the original transport documents, avoiding delays and additional charges.
Post-Financing of Import Bills
We provide post-financing solutions at attractive rates in order to meet your payment obligations for goods purchased and services provided under Import LCs and Documentary Collections.
Central Region – Riyadh
Tel: +966 (0) 11 4067888 Ext. 1215/1249/1459
+966 (0) 11 5115252 Ext. 1155
Western Region – Jeddah
Tel: +966 (0)12 2368844 Ext. 2623
Eastern Region – AlKhobar
Tel: +966 (0)13 8957444 Ext. 3323/3324/3326
Toll-free number: 8004400020