Gulf African Bank - Trade Finance

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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.

Trade Finance

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.

Key Advantages:

- Universal means of payment which is regulated by the International Chamber of Commerce.

- Level of security that covers against Commercial risk, Country risk and Bank risks.

- Instrument can be used as a means of financing.

Documentary Collections

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.

Key Advantages:

- Universal means of payment which is regulated by the International Chamber of Commerce.

- Alight way to secure International Transactions.

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.

Key Advantages:

  • Secures the events of your commercial contract from the submission of tender to final acceptance.

  • Mitigates performance risk on projects and or payment risks of International Trade

Trade Finance contacts

KUSSCO BUILDING, KILIMANJARO AVENUE

P.O. Box 43683 -00100 Nairobi

Phone Number:

020-2710654 / 640 or +254711075000 or +254 711075150

Fax : +254-20-2715655

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.