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TRADE AND FINANCE
Our Purpose
We operate an effective and efficient international trade
settlement system that works in partnership with our
customers to deliver products and services which surpass
their expectations.
Letters Of Credit (LC)
This is one of the methods of payment in settling
international trade obligations. Essentially, it is a
written undertaking given by a bank at the request of a
customer (applicant), in which the bank obligates itself to
pay the exporter (beneficiary) up to a stated amount within
a prescribed time frame upon presentation of stipulated
documents that conform to the terms and conditions of the
documentary credit. In Guaranty Trust Bank, we offer two
types of LCs:
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With Funded LC, the funds are wholly provided by the
customer (applicant).
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Un-funded LC, is funded by the bank with some equity
contribution from the applicant.
Bills For Collection (BC)
This is yet another method of payment in International Trade
in which a set of instructions is sent to and processed by a
bank on behalf of a supplier with a view to receiving value
for goods already shipped to an importer. It is less
stringent than a letter of credit.
Funds Transfers
As part of Foreign Operations, funds transfer services are
also offered at GTB. Such services include REMITTANCES of
all kinds. Our state-of-the-art technology enables us to
wire funds (electronic transfer) to even the remotest corner
of the globe within minutes via the extensive global network
of our correspondent banks. All we need from our customers
is completely accurate information on the transfers. From
our PCs in The Gambia, we communicate with the rest of the
world in minutes via SWIFT. We also accept Western Union
Transfers.
Foreign Cheque Collection
Our Foreign Cheque Collection service allows our customers
to cash foreign bank cheques/drafts within a reasonable
time. This service applies to cheques denominated in US
Dollars, Pounds Sterling, Euro and CFA.
Traveler's Cheque
For customers traveling abroad, the Bank offers travelers cheques which are safer and more convenient than cash. These
Travelers cheques are internationally accepted means of
payment.
Foreign Drafts
GTB also offers this product and our drafts are drawn on our
correspondent banks and payable abroad. This mode of payment
comes in handy when making such payments as:
The draft is usually cut and handed over to the individual
customer but in peculiar cases, we can help (on the
request/account of the customer) send by courier to the
beneficiary.
Why not try us and get the highest value and satisfaction
from your hard-earned money?
For more information on our products and services, please
contact us on:
Tel: (220) 4376539 or (220) 4376383
Email: webmaster@gambia.gtbplc.com
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