The bank conducts its Trade Finance activities through a web of regional and international correspondent banks with which the bank has established strong correspondent banking relationships.
The Bank's growing Trade Finance activities are directed at its commercial and trade customers. Products available include Guarantees and Standby Letters of Credit, Documentary Letters of Credit as well as Documentary Collections.
Documentary Letters of Credit
Documentary Letters of Credit or simply LCs are Trade instruments used to mitigate the various risks inherent in international trade. Such risks include buyer's risk, country risk, payment risk etc, which are mitigated by way of the issuing bank undertaking to pay to the supplier. At GAB, all types are available depending on the customers need, including; Irrevocable Letters of Credit, Revolving Letters of Credit, Transferable and Back-to-Back Letters of Credit.
These Trade Instruments are less expensive and less complicated than the typical Letter of Credit facilities and are ideal for traders with established Supplier and Buyer relationships. GAB comes in handy to seamlessly facilitate your trade process by either receiving documents from your suppliers' bank in case of an import or, in case of an export, sending trade documents to the buyer's bank.
Guarantees and Bonds
This important Trade instrument is an undertaking by GAB, as guarantor, to pay the named beneficiary, the sum stated, should a third party fail to perform and/or in the event a certain action fails to take place as agreed. GAB has a wide range of guarantees available on offer to cater for varied needs of the customers. These include; Tender/Bid Bonds, Advance Payment Guarantees, and Shipping Guarantees, Payment Guarantees, Standby Letters of Credit and Performance Bonds.
Trade Finance contacts
KUSSCO BUILDING, KILIMANJARO AVENUE email@example.com
Business Advisory Team
GAB's Business Team offers Business Advisory Services to clients and prospects to help them better manage and develop their business. This advice, among other things, includes trade products most suitable to their business models with cost implications in mind.