Gambia

Cover facilities are available for transactions with contract values of up to EUR 250,000 for affiliated companies or companies which belong to an international group the creditworthiness of which is beyond doubt or if sufficient information material on the debtor is available which, subject to the application of strict criteria, justifies the granting of cover without collateral.
Under wholeturnover policies cover for future deliveries will be automatically suspended if payment is not received eight weeks after the agreed due date at the latest.

No cover facilities available for public buyers.
Cover facilities are available for smaller transactions on a case-by-case basis, in particular foreign exchange-generating projects of private buyers and state-owned buyers provided that they are established as private sector organizations and operate without recourse to public funds.
In addition, cover is available for project finance and other structured finance deals, where necessary based on countertrade transactions.

For short-term transactions collateral is not normally required.
For medium and long-term transactions bank security is required if the foreign buyer’s creditworthiness is inadequate.

The assessment of a bank for acceptance as a guarantor or borrower is carried out case by case on the basis of informative documents and taking into account the risk involved.

Country information on commercial practices, business climate, market analyses, law, import procedures, customs duties and international projects and tenders can be found on the website of Germany Trade & Invest (gtai, https://www.gtai.de).

The most important GTAI country information on Africa can be found at a glance on the Africa Business Guide (German version, www.africa-business-guide.de).

You can find more detailed information on the G20 initiative „Compact with Africa“ (www.compactwithafrica.org).