FuelCore Namibia
// 03 — Banking

Bank-grade commercial frameworks.

FuelCore transacts exclusively under documentary trade instruments — irrevocable Letters of Credit, back-to-back structures and confirmed advance payment for smaller volumes.

/ Instruments

Four trade instruments
we transact under.

Choice of instrument is driven by tonnage, supplier requirements and the buyer's banking relationship. FuelCore advises on structure during the offer stage.

01/04

30-Day Account (Registered Mines)

Approved mining counterparties may transact on a 30-day open account facility, subject to credit review, signed supply agreement and verified mine registration. Streamlines repeat draw-down supply without per-shipment LC issuance.

When applied
Registered mines with established trade history
30-day termsCredit-reviewedRepeat draw-down
02/04

Back-to-Back LC

FuelCore's bank issues a secondary LC to the supplier on the strength of the buyer's primary LC. Used where the buyer's LC cannot be commercially transferred or where supplier requires a dedicated instrument.

When applied
Used when transfer is not commercially appropriate
Secondary LCBank-issuedSupplier-specific
03/04

Non-Transferable LC at Sight

Where the upstream supplier requires direct beneficiary status. FuelCore coordinates the commercial wrap, customs clearance and mine-site logistics around the LC instrument while keeping documentary control of the shipment.

When applied
Supplier requires direct beneficiary status
Direct beneficiaryWrapped logisticsDocumentary control
04/04

Confirmed Advance Payment

Used for smaller confirmed orders, warehouse-based draw-down supply or repeat buyers with established trade history. Payment cleared prior to loading or dispatch under a signed contract.

When applied
Smaller confirmed orders or warehouse draw-downs
Advance clearedSigned contractWarehouse supply
/ Transaction flow

Enquiry → Discharge.
Six documented stages.

  1. 01
    Step 1 / 6

    Enquiry & Offer

    Buyer submits tonnage enquiry. FuelCore issues a structured commercial offer with price, route and proposed instrument.

  2. 02
    Step 2 / 6

    Draft LC Review

    Buyer uploads draft LC to the Buyer Portal. FuelCore reviews wording and returns correction comments within 48 hours.

  3. 03
    Step 3 / 6

    LC Issuance

    Buyer's bank issues final LC. Advising bank notifies FuelCore. Supplier nomination is confirmed.

  4. 04
    Step 4 / 6

    Loading & Inspection

    Vessel loaded at origin. SGS / Bureau Veritas issues weight, quality and quantity certificates.

  5. 05
    Step 5 / 6

    Document Negotiation

    Compliant documents presented to advising bank. Payment cleared at sight on document acceptance.

  6. 06
    Step 6 / 6

    Discharge & Handover

    Vessel discharged at Walvis Bay. Onward DAP transport coordinated to mine site where applicable.

// Banking note

All LC structures are subject to issuing bank acceptance, advising bank confirmation, supplier nomination and FuelCore commercial approval. Draft LCs may be uploaded to the Buyer Portal for wording review prior to final issuance.

Ready to issue a draft LC for review?

Open Buyer Portal