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Ahli Bank’s L/C’s and L/G’s
What are L/C’s and L/G’s?
Letter of Credit (L/C): A financial document issued by a bank at the request of
the consignee guaranteeing payment to the shipper for cargo if certain terms and
conditions are fulfilled. Normally, the letter of credit contains a brief
description of the goods, documents required, a shipping date, and an expiration
date after which payment will not longer be made.
Letter of Guarantee(L/G): A letter from a bank to a brokerage firm which states
that a customer (who has written a call option) does indeed own the underlying
stock and the bank will guarantee delivery if the call is assigned. Thus the
call can be considered covered. Not all brokerage firms accept letters of
guarantee.
When to use a L/Cs and L/G’s?
If you are a merchant that exports and imports goods on regular basis L/C’s are
your choice to insure secure delivery and insurance against fraud, or if you are
a stock broker you can make use of L/G’s form banks to cover you immediate
expenses.
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What are the benefits of using Ahli Bank’s L/C’s and L/G’s?
To apply
Please visit any of our branches in Jordan or abroad, and one of our Customer Service Representatives will be glad to assist you in filling an application form. Please click on tell me more
to locate the branch nearest to you.
For more information, please call our "Ahli Ahlan" Call Center and our Customer Service Representatives ( toll free line 080022777 or + 9626-500-7777) will be happy to assist you between 8:00 AM until
3:30 PM Sunday through Thursday. We look forward to your call, and to serving you in the best way possible.
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