Aweil traders promised Letters of Credit

Author : | Published: Wednesday, May 6, 2015

The Traders’ Union has promised to negotiate Letters of Credit for retailers in Aweil, the capital of Northern Bahr al-Ghazal State.A letter of credit is a document from a bank guaranteeing that a seller will receive payment in full as long as certain delivery conditions have been met.

In the event that the buyer is unable to make payment on the purchase, the bank will cover the outstanding amount.

Currently, the letters are issued by the national government to enable businesspeople buy goods from the neighboring countries.

The chairperson of the union, Ayii Duang Ayii, told more than 200 traders in Aweil town that they will get the letters of credit to solve the scarcity of goods in the market.

“My assurance to all of you is that I will try very hard to bring you the Letters of Credit [LC] to enable you do business with other businessmen/women from other countries in a short period of time,” My Ayii said.

Mr Ayii urged traders to avoid politics. He said some of the traders who were arrested in Aweil town last month for inflating prices were also involved in politics.

Support Eye Radio, the first independent radio broadcaster of news, information & entertainment in South Sudan.

Make a monthly or a one off contribution.

error: Alert: Content is protected !!