Documentary Credit (Export):
The role of the Saudi National Bank is to advise the beneficiary / customer with the letter of credit, while verifies the validity of the letter of credit and makes a recommendation to the beneficiary.
The bank also undertakes to check and circulation of export documents/documents, and ensures that the documents are in conformity with the accreditation request, in addition to the credit enhancement service.
The beneficiary is required to deliver the documents to one of the branches and attach a form Covering Letter (Export LC Documents).
The Saudi National Bank also provide an early payment solution to discount the LC (with and without recourse on supplier).