Opening the LC in ALgeria
Posted: Fri Sep 24, 2010 3:15 am
Hello,
Can anybody give me some advice about opening the LC in Algeria, and which bank is the most convenient for this purpose?
We have Montenegro based company who is the exporter of goods and our sister company based in Algeria who is the importer.
As we do not have much experience with the bank and LC, some advice about procedure of opening and which documents are required would be precious to us. Also I need to know (approximatelly) how much time does this procedure take? What kind of guarantee do the banks ask for the coverage of LC? Or it is only the Reimbursement Agreement that is enough?
Thanks in advance
Stela
Can anybody give me some advice about opening the LC in Algeria, and which bank is the most convenient for this purpose?
We have Montenegro based company who is the exporter of goods and our sister company based in Algeria who is the importer.
As we do not have much experience with the bank and LC, some advice about procedure of opening and which documents are required would be precious to us. Also I need to know (approximatelly) how much time does this procedure take? What kind of guarantee do the banks ask for the coverage of LC? Or it is only the Reimbursement Agreement that is enough?
Thanks in advance
Stela