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Parkside

First National Bank of Namibia LTD
C/O Fidel Castro & Independence Ave
Box 195, Windhoek
Tel: 061 2992111
infonam@fnbnamibia.co.na

The Parkside branch also services RMB, Homeloans and WesBank clients.

RMB Namibia Tel: 061 2992340

RMB Corporate Banking
Tel: 061 2998446
infonam@fnbnamibia.com.na

WesBank
C/O Fidel Castro & Independence Ave
Box 195, Windhoek
Tel: 061 2992437
wesbank@fnbnamibia.com.na

Homeloans
C/O Fidel Castro & Independence Ave
Box 2150, Windhoek
Tel: 061 2992523 / 061 2992524
bonds@fnbnamibia.com.na

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Private Clients

C/O /Fidel Castro & Independence Ave
First Floor
Box 285, Windhoek
Tel: 061 2992838

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Grove Mall

C/O Chasie & Frankie Fredericks St, Ground Floor
Shop 44, The Grove Mall shopping centre
Box 35387, Kleine Kuppe, Windhoek
Tel:061 2992222

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Southern Industrial Area

P/Bag 5177, Ausspannplatz
info@fnbnamibia.com.na

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John Meinert

C/O Independence Ave & John Meinert St
Box 23043, Windhoek
Tel: 061 299 2222

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Prosperita

110 Nickel St, Prosperita
Box 285, Windhoek
el: 061 2992222

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Contact Centre
C/O Fidel Castro & Independence Ave
Box 285, Windhoek
el: 061 2992222

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Katutura

Pick n Pay Complex, Independence
Katutura
Box 62207, Katutura, Windhoek
Tel: 061 2992222
fnbkatutura@fnbnamibia.com.na

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Northern Industrial

16 Nguni St, Northern Industrial Area
Box 23043
Tel: 061 299 2222

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Private Wealth
C/O Fidel Castro & Independence Ave
Ground Floor
Box 285, Windhoek
Tel: 061 2998447

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Windhoek

207 Independence Ave, Windhoek
Box 285, Windhoek
Tel: 061 299 2222

Bureau de Change
207 Independence Ave, Windhoek
Box 285, Windhoek
Tel: 061 299 2222

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Aranos

First National Bank of Namibia LTD
17 Main St, Box 91 Aranos
Tel: 061 299 2222

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Eenhana

First National Bank of Namibia LTD
BH Complex Main Rd, Box 13407 Eenhana
Tel: 061 299 2222

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Gobasis

First National Bank of Namibia LTD
44 Church St, Box 14 Gobabis
Tel: 061 299 2222

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Grootfontein

First National Bank of Namibia LTD
Hage Geingob Ave, Box 30 Grootfontein
Tel: 061 2992222

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Henties Bay

First National Bank of Namibia LTD
C/O Jakkalsputz & Duineweg, Box 447 Henties Bay
Tel: 061 299 2222

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Karasburg

First National Bank of Namibia LTD
79 Main St
Tel: 063 270012
Fax: 063 270079

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Karibib

First National Bank of Namibia LTD
Main St Hidipo Hamutenya, Box 24 Karibib
Tel: 061 299 2222

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Katima Mulilo

First National Bank of Namibia LTD
Hage Geingob Drive, Erf 329 Katima Mulilo
Tel: 061 299 2222

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Keetmanshoop

First National Bank of Namibia LTD
76 Hampie Plichta Ave, Box 77 Keetmanshoop
Tel: 061 299 2222

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Luderitz

First National Bank of Namibia LTD
12 Bismarck St, Box 10 Luderitz
Tel: 061 299 2222

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Mariental

First National Bank of Namibia LTD
Erf 280 Dr Sam Nujoma Ave, Box 131 Mariental
Tel: 061 299 2222

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Nkurenkuru

First National Bank of Namibia LTD
Nkurenkuru Shopping Mall, Main Rd
Tel: 061 299 2222

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Okahao

First National Bank of Namibia LTD
Okahao-Tsandi main Road, Box 42 Okahao
Tel: 061 299 2222

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Okahandja

First National Bank of Namibia LTD
Shop 16, Okahandja Shopping Mall, Box 140
Tel: 061 299 2222

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Okakarara

First National Bank of Namibia LTD
89 John Tjikuua St, Box 212 Okakarara
Tel: 061 299 2222

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Okongo

First National Bank of Namibia LTD
Room no 16, Okongo Complex, Box 15216 Okongo
Tel: 061 299 2222

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Omuthiya

First National Bank of Namibia LTD
Omuthiya Shopping Centre, Shop no 10 Main Road Omuthiya
Box 19281 Omuthiya
Tel: 061 299 2222

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Ondangwa

First National Bank of Namibia LTD
37 Main Rd, First City Centre
Box 42, Ondangwa
Tel: 061 299 2222

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Ongwendiva

First National Bank of Namibia LTD
Tel: 061 299 2222
Area Office

Ongwediva
Shop 28-32, Oshana Mall, Main Road,
Tel: 061 299 2222
Box 3321,
Tel: 061 299 2222

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Opuwo

First National Bank of Namibia LTD
NDC Park 1, Main Road, P/Bag 3008 Opuwo
Tel: 061 299 2222

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Oranjemund

First National Bank of Namibia LTD
8th Avenue, Box 204 Oranjemund
Tel: 061 299 2222

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Oshakati

Oshakati Game
Game Shopping Complex, King Mandume Road
P/Bag 5510, Oshakati
Tel: 061 299 2222

First National Bank of Namibia LTD
Erf 272, Okatana, Main Road
P/Bag 5510, Oshakati
Tel: 061 299 2222

FNB Insurance Brokers Namibia (PTY) LTD
Office No 8, Oshakati Complex
Tel: 061 299 2222

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Otavi

First National Bank of Namibia LTD
No 13, Unie St, Box 81 Otavi
Tel: 061 299 2222

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Otjiwarongo

First National Bank of Namibia LTD
7 George St, Box 64 Otjiwarongo
Tel: 061 299 2222

Otjiwarongo Midway Agency
Hage Geingob St, Spar Complex, Shop no 2
Tel: 061 299 2222
Box 64 Otjiwarongo

Central North Area Office
196 Hage Geingob St, Box 2047 Otjiwarongo
Tel: 061 299 2222
Fax: 067 308805

FNB Insurance Brokers Namibia (PTY) LTD
44 Hage Geingob St, Box 667 Otjiwarongo
Tel: 061 299 2222
Fax: 067304438

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Outapi

First National Bank of Namibia LTD
Tsandi, Main Road, Box 35 Outapi
Tel: 061 299 2222

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Outjo

First National Bank of Namibia LTD
Erf 29, Shop 7, President Ave, Outjo Park, Box 16 Outjo
Tel: 061 299 2222

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Rehoboth

First National Bank of Namibia LTD
Erf 1, C/O Church & Bahnhoff, Block B, P/Bag 1008 Rehoboth
Tel: 061 299 2222

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Rosh Pinah

First National Bank of Namibia LTD
2 Lood St, Box 418 Rosh Pinah
Tel: 061 299 2222

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Rundu

First National Bank of Namibia LTD
Maria Mwengere Street
Box 149 Rundu
Tel: 061 299 2222

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Swakopmund

First National Bank of Namibia LTD
16 Tobias Hainyeko St, Box 1 Swakopmund
Tel: 061 299 2222

Mondesa
1040 C/O Independence & Mandume Ndemufayo Ave
Mondesa, Box

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Tsumeb

First National Bank of Namibia LTD
74A Presidents Ave, Box 251 Tsumeb
Tel: 061 299 2222

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Walvis Bay

First National Bank of Namibia LTD
138 Sam Nujoma Ave, Box1 Walvisbay
Tel: 061 299 2222

Kuisebmond
Shop 4& 5 Nataniel Mauxuilili Service Centre
Kuiseb Mall, Kuisebmond, Box 1819 Kuisebmond
Tel: 061 299 2222
Fax: 064 280501

WesBank Finance
No 5, 11 Road, Walvisbay
Box 2941, Windhoek
Tel: 061 299 2222
Fax: 064 203409

FNB Insurance Brokers Namibia (PTY) LTD
116 6 St, Box 1640 Walvis Bay
Tel: 061 299 2222
FNB Insurance Brokers complaints
fnbibcomplaints@fnbnamibia

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Klein Windhoek

No 9 Eaton Heights, Bassingthweighte St
Klein Windhoek
Box 285, Windhoek
Tel: 061 2992222

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Maerua Mall

1st Floor, Shop no 37
Maerua Mall Shopping Centre
Tel: 061 299 2222

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News + insights

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Types of Documentary Credits


  • Revocable Credit
    This can be amended or cancelled at any time by the importer without the consent of the exporter. This option is not often used, as there is little protection for the exporter. By default all credits are irrevocable, unless otherwise stated.
  • Irrevocable Credit
    Once issued this can only be changed or cancelled with the consent of all the parties. The seller must merely comply with the terms and conditions of the credit in order to receive payment.
  • Confirmed Credit
    In some instances, exporters may request a credit to be confirmed by another bank, (usually a bank in their own country). If a bank adds its confirmation to a credit, it means that it is obliged to pay if the terms and conditions of the credit are complied with. This obligation to pay exists even if the issuing bank or country defaults.
  • Payment Credit
    This is available for payment at the tellers of the paying bank, as nominated in the credit. The seller can, therefore, present documents to the paying bank and does not have to wait for the documents to be forwarded to the issuing bank for checking and subsequent payment.
  • Negotiation Credit
    This is always payable at the counters of the issuing bank. Buyers can use negotiation credits to delay payment until the documents have been received and checked by the issuing bank.
  • Deferred Payment Credit
    Similar to payment credits, except that they are payable at a future date.
  • Acceptance Credit
    The accepting bank guarantees payment to the holder of the bill of exchange on maturity date - regardless of whether the credit is confirmed or not. This option comes with an acceptance fee which can be substantial.
  • Back-to-Back Credit
    The original letter of credit is used as security to open another credit in favour of the exporter's own supplier. The bank confirming the original credit may not necessarily be the issuing bank of the second credit.
  • Transferable Credit
    This is normally used when the exporter is not supplying the goods and wishes to transfer all or part of the responsibilities under the credit to the supplier(s).
  • Red Clause Credit
    This enables the exporter to obtain advance payment before shipment. This is provided against the exporter's certificate confirming its undertaking to ship the goods andto present the documents in compliance with the terms and conditions of the documentary credit.
  • Green Clause Credit
    Similar to a Red Clause Credit, but in addition to pre-shipment finance the exporter also receives storage facilities at the port of shipment at the expense of the buyer.
  • Packing Credit
    This offers pre-shipment finance to the seller against warehouse receipts, forwarding agent's receipts or similar documents that prove the goods are no longer in the seller's possession.
  • Standby Credit
    Similar to a normal letter of credit, this method differs in that it is a default instrument, whereas a normal credit is a payment instrument. A standby credit is only called upon in the event of failure to perform. Its function is, therefore, that of a guarantee.
  • Revolving Credit
    This allows for the credit to be automatically reinstated under certain circumstances. It is normally used where shipments of the same goods are made to the same importer.

How do I (the seller) know whether this is the correct payment method to opt for?


If you are concerned that the importer may not pay, or you are not comfortable with the country risk in the country of the importer, then you should insist on payment via a documentary credit - also called a letter of credit. Once your bank adds their confirmation to the credit, the various risks are covered - provided you produce the necessary documents and they conform to the credit terms, you will receive payment, even if the importer's bank and/ or country are unable to pay.

How do I (the seller) ensure that payment is effected via a documentary credit?


You need to state in your sales contract that payment is to be effected via a documentary credit. If you have requested payment via documentary credit, you should not proceed with the manufacture and/or shipping of your goods until you have received the documentary credit and checked it carefully to ensure that it is issued in terms of your requirements.

What happens if the documentary credit is not in terms of my (the seller's) requirements?


If this is the case, you will need to request the buyer to arrange for an amendment to the documentary credit.

What is the Uniform Rules for Collections?


It is hard to imagine dealing with collections without the security of international uniformity. The International Chamber of Commerce (ICC) is an international body that has defined worldwide standards for the operation of documentary collections. These standards are embodied in the 'Uniform Rules for Collections', commonly referred to as the URC 522. The URC 522 is not a force of law, but a set of rules and regulations that are binding on the parties who subscribe to it.

Checklist for buyers applying for a documentary credit


  • Does the credit state the correct form (i.e. revolving, confirmed, transferable, etc)?
  • Can the exporter comply with the terms and conditions without difficulty?
  • Have all the appropriate documents been called for?
  • Does the transport insurance need to cover any special risk?
  • Does the shipping date allow for enough time for the documents to be presented before expiry?
  • Have the delivery terms been stated?
  • Is the description of the goods accurate?

Checklist for sellers on receipt of a documentary of credit


  • Does the credit reflect the contract (amount, description of goods, terms of delivery, expiry and shipment dates)?
  • Has the credit been issued in the agreed form (revolving, confirmed, transferable, etc)?
  • Where and how is the credit available?
  • Where do the documents need to be presented?
  • Is the credit subject to the Uniform Customs and Practice for Documentary Credits?
  • Are the various names and addresses correct?
  • Can the shipment deadlines be met?

Documentary Credit


Letter of credit

A Documentary Credit, also commonly called a Letter of Credit, is a commitment by a bank (the 'Issuing Bank') to pay the seller or exporter ('Beneficiary') a certain amount for goods or services, provided the Beneficiary conforms with the specified terms and conditions contained in the Credit.

Why you need this


Offering maximum security

  • Secures payment, provided the terms and conditions are fulfilled
  • Delivery and payment occur at the same time
  • It offers the exporter and importer maximum security
  • Various types of documentary credits are available
  • It is time-consuming, but this is offset by the benefits and security of
  • Governed by the Uniform Customs and Practice for Documentary
 

Steps involved


Taking you step by step

If you are exporting


  1. You agree with the buyer to the terms and conditions of the sales contract
  2. The buyer applies for a documentary credit
  3. You receive the documentary credit from FNB Namibia and carefully read the terms and conditions
  4. The buyer applies for a documentary credit
  5. Documents called for in the documentary credit are gathered and presented to FNB Namibia
  6. If documents are in order, you are either paid or receive a payment undertaking to be paid at a future date, depending on the payment terms of the original agreement
  7. These documents are sent to the issuing bank
  8. The buyer then uses these documents to claim the goods

If you are importing


  1. You agree with the seller to the terms of the sales contract
  2. You apply for a documentary credit
  3. The documentary credit is sent to the seller's bank by FNB Namibia
  4. The buyer applies for a documentary credit
  5. Documents called for in the documentary credit are gathered and presented to the bank
  6. If documents are in order, the seller is paid or receives a payment undertaking to be paid at a future date, depending on the payment terms of the original agreement
  7. Your bank checks the documents, debits your account (in case of a sight documentary credit), and gives you the documents
  8. You use these documents to claim the goods

Getting it made easy


Documentary Credit

How to get it

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