An import letter of Loan is a payment undertaking issued by the Lao Chinese Bank to foreign exporters at the request of an importer in Laos. It promises that the bank will perform payment obligations to the exporter when the exporter meets the requirements of the letter of Loan. Our bank can open various types of letters of Loan, such as sight, extension, acceptance, negotiation, transferable, confirmed, revolving, and foreign letters of Loan, etc.;
Tips:
When opening an import letter of Loan, the applicant will provide additional guarantees for the exporter's collection at the expense of paying more bank fees. Therefore, it is recommended that the applicant request the exporter to give preferential prices or provide other conveniences when signing the contract.
