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Can An Iranian bank issue Confirmed L/c?


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Old 06-14-2008, 01:35 AM
madeinchina madeinchina is offline
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Default Can An Iranian bank issue Confirmed L/c?

We are exporters. Our Iranian client informed us that an Iranian bank can't issue a 'confirmed' Letter of credit. This simply translates to the fact that none of the Iranian banks (including Central Bank of Iran) has an intermediary American / European bank to guarantee the payment to the exporter's bank.

if this info stands true, I'd like to know the risk factor(s) associated with an 'unconfirmed' Letter of Credit.
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Old 06-14-2008, 01:35 AM
Hyundai Hyundai is offline
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Default Can An Iranian bank issue Confirmed L/c?

Certainly not accepted in the US
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Old 06-14-2008, 01:35 AM
news news is offline
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Default Can An Iranian bank issue Confirmed L/c?

please the best solution would be to look for and multinational bank in iran or ask your buyer to open an letter of credit via duabai which is a free port and it will enable you to finalise the transaction or you could even try for an middle eastern bank with operations in iran who should be able to confirm you the letter of credit . doing business with un confirmed l/c is highly risky
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