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Letters of credit

Documentary letter of credit is the most reliable method to make payments in international trade for both importers and exporters of goods.

Documentary letter of credit is a written obligation of the Bank, on behalf of the buyer (importer) to pay a sum of money in favor of the seller (exporter) against the presentation of documents in accordance with the terms of the letter of credit confirming the shipment of goods or the provision of services.

Benefits for seller (exporter):

  • elimination of the risk of buyer nonpayment;

  • elimination of the risk of unilateral changes;

  • possibility of deferred payment;

  • possibility of structuring the delivery schedule based on own interests.

Benefits for buyer (importer):

  • payment will be made after the goods are shipped;

  • guarantee of delivering the goods in accordance with the nomenclature and terms, as well as possibility to control the quality of goods;

  • possibility to fully or partially avoid prepayment;

  • possibility of structuring the payment scheme under the contract taking into account own interests;

  • possibility to obtain short-term financing.

Tariffs for bank guarantees and letters of credit