Working Capital Finance
Revolving credit lines and invoice finance to smooth cash flow.
Business banking
Import with confidence. Your supplier gets our promise.
Letters of credit, bank guarantees and documentary collections that help importers buy from new overseas suppliers without paying everything up front.
Applications are not possible: this is a fictional test website.
Key benefits
Win supplier trust
A letter of credit tells your supplier the bank will pay when the right documents arrive.
Protect your cash
Pay when goods are shipped and documents are in order, not months before.
Guarantees for tenders
Bid and performance guarantees help you compete for contracts.
Specialist document checks
Our trade desk checks shipping documents within 2 business days.
Who it's for
For businesses that buy or sell across borders.
- Importers of food, electronics, spare parts and building materials
- Retail chains buying stock from overseas factories
- Contractors bidding for projects that require guarantees
- Exporters who want payment security from foreign buyers
Features
- Import letters of credit (sight and deferred)
- Standby letters of credit
- Bid, advance payment and performance guarantees
- Import and export documentary collections
- Trade finance loans against LCs
- Status tracking in business online banking
Rates and figures
| Service | Fee | Minimum |
|---|---|---|
| Letter of credit issuance | 0.25% per quarter | JOD 50 |
| Bank guarantee | 1.5% per year | JOD 75 |
| Documentary collection | 0.15% | JOD 25 |
| LC amendment | JOD 30 per amendment | – |
| Discrepancy handling | USD 75 per set of documents | – |
Correspondent bank and courier charges are extra. Fictional figures for software testing.
Fees and charges
| LC issuance | 0.25% per quarter (min JOD 50) |
|---|---|
| Guarantee | 1.5% per year (min JOD 75) |
| Collection | 0.15% (min JOD 25) |
| International transfer message | JOD 10 |
Eligibility
- Registered business with an import or export activity
- Business account with Lanternvale Bank
- Approved trade credit limit or cash margin
Documents you need
- Commercial registration and import licence
- Pro forma invoice or sales contract
- Completed LC or guarantee application (at a branch, never online on this site)
- Last 2 years' financial statements for credit limits
How to apply
- Discuss the deal with a trade specialist
- Agree the LC or guarantee terms with your supplier
- Submit the request with your pro forma invoice
- We issue the LC and send it to your supplier's bank
Frequently asked questions
What is a letter of credit?
It is the bank's written promise to pay your supplier when they present documents that match the agreed terms.
Do I need to deposit the full amount?
Not if you have an approved trade limit. Otherwise a cash margin is required.
What happens if the documents are wrong?
We tell you about the discrepancies and you decide whether to accept them. A handling fee applies.
How long does issuance take?
Usually 1 business day once the application and limit are in place.
Related products
Business Accounts
Current accounts for sole traders, partnerships and companies.
Foreign Currency Account
Hold USD, EUR, GBP and AED in one account for travel, study and trade.
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Working Capital Finance
Revolving credit lines and invoice finance to smooth cash flow.
Trade finance facilities are subject to credit approval and international trade rules agreed between the parties. Lanternvale Bank is fictional. Figures are examples for software testing. Products would be subject to local banking regulation.