Letter of credit
If your company participates in foreign trade operations, our letter of credit is the most secure and guaranteed international payment method.
A letter of credit is issued by the bank based on your request in favour of your contract counterparty.
Hence, the bank acts as an intermediary between your company and the seller.
The payment will be done only after the bank receive all the documents confirming the shipment of goods / shipping / rendering of services by the seller.
For the Seller:
- Assurance that export income will be collected if the Buyer fulfills all the conditions and terms of the letter of credit.
- Reliable and quick payment of goods just after their shipment (provided all the supporting documents are submitted to the bank).
For the Buyer
- Assurance that the Seller will not get the payment until all the terms of the contract are fulfilled.
- Possibility to use the letter of credit for financing or as a collateral
We offer the following types of letters of credit:
- Irrevocable letter of credit
- Stand-by letter of credit
- Confirmed letter of credit
- Non-confirmed letter of credit
- Transferable letter of credit
- “Back-to-back” letter of credit
We offer the following services on letters of credit
- Opening, confirmation, advice and transfer of letters of credit, other operations (conditions amendment, documents checking, payments).
- Advisory services regarding letter of credit transactions.
- Confirmation of letters of credit by the world’s first-rate banks.
- Opening of the import letters of credit (financed by the Client).
- Opening of the import letters of credit (financed by IBA).
- Opening of the import letters of credit with deferred payment (financed by IBA).