العربية

Opening Letters of Credit​

In collaboration with commercial banks, SIDF has introduced the Letter of Credit as a default payment mechanism to clients with preferred terms and conditions.

Objectives:

  • Better liquidity management.
  • Project implementation acceleration.
  • Lower issuance fees.

Roles of each party:

  • The Client: Contractual agreement between client and supplier.
  • SIDF: Provide a guarantee to issue the Letter of Credit with terms and conditions.
  • The Bank: Issues Letters of Credit and validates shipping documents.

Partners:

  • Riyad Bank
  • The Saudi National Bank
  • Alinma bank
  • Arab National Bank
  • Gulf International Bank
  • Bank Albilad​
  • Al Rajhi Bank
​
​
​
​
​
​
​