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Cash Backed Letter of Credit

Limited offer. No issuance fees when you apply for 100% Cash Backed Guarantee through SAB iCorp & HSBCnet. Offer valid until 31 December 2026.

 

Cash Backed Guarantee is a written undertaking issued by the bank against 100% cash margin or collateral amount deposited by clients and as in the case of all guarantees, it is payable at the first call or demand received from the beneficiary during the guarantee validity period. Cash Backed Guarantee is offered to SMEs with a maximum turnaround time of 2 hours for issuance of the Guarantee from receipt of the guarantee application & without visiting the branch.

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Import Documentary Credits issued by SAB are a payment method that reduces risk and strengthens your negotiating position. Protects both the buyer and supplier Interest.

  1. Benefits:
    • Letter of Credit amount up to SAR 15 M*.
    • 24hr issuance upon receiving of complete application.
    • Letter of Credit can be issued in SAR and foreign currencies*.
    • Letter of Credit can be issued on behalf of third parties*

    2. *Terms & Conditions apply

     

  2. General Condition:
    • Applicant must be a SAB client. If not, click here open your new account online
    • Third party should be a SAB client.
    • Additional 10% will be added to the cash margin for LCs issued in foreign currencies.
    • 1-year maximum tenor for each type of LC.
    • To find out about the branches offering this service, please call 800 120 0025

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