Where supply orders are backed by Letters of Credit (LC’s)

Procuring entities, through mutual agreement /contract, shall Issue local Letters of Credit (master LC) to special category suppliers. The LC terms shall be a replica of contract / Purchase Order terms. Subsequently, the supplier shall engage Baraka Credit through its partner banks for facilitation of working capital financing by way of back-to-back LC to the ultimate supplier. This overcomes performance and payments risk challenge.

WhatsApp Lets Chat on WhatsApp