You define the terms and conditions of the letter of credit in accordance with the concluded contract.
Documentary Letter of Credit
Secure and transparent settlements for exporters and importers.
Service Overview
Reliable settlements for both exporters and importers
A documentary letter of credit is a secure payment instrument widely used in international trade. It ensures that the exporter receives payment only if the submitted documents fully comply with the terms and conditions specified in the agreement.
At the same time, the importer can clearly define the payment terms, prepare in advance for the receipt of goods, and significantly reduce risks related to non-compliant or delayed payments.
Use a documentary letter of credit to settle payments for goods purchased from foreign suppliers
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Your Bank effects payment only if all letter of credit conditions are duly met.
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Without your consent, the Bank will not release payment if discrepancies are identified.
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You can prepare in advance for the receipt of goods, as document examination is typically completed before delivery, particularly in sea freight transactions.
Application Process
Issuance of a Letter of Credit for Importers
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01
Submit an application
Provide the required documents, deadlines, and contractual terms agreed with the supplier. Indicate whether you will provide full cash coverage or require credit financing.
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02
Application review
The Bank reviews your application and, upon approval, issues the letter of credit.
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03
Receive SWIFT confirmation
You receive a copy of the SWIFT message sent to the exporter’s bank.
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04
Examination of documents
Once the documents are presented, we examine their compliance with the letter of credit terms. If no discrepancies are identified, payment is made to the exporter’s bank and the documents are released to you.
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Full control
If discrepancies are identified, payment is made only upon your approval, ensuring full control over the transaction.
Your benefits
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Letter of Credit with Financial Coverage
A letter of credit may be issued with full or partial cash coverage, including the allocation of a credit line.
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Credit Limit Collateral
Your credit limit may be secured by real estate or other assets, subject to individual agreement.
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Consultations at No Additional Charge
Receive professional guidance throughout the entire letter of credit servicing period without additional commission fees.
Application Process
Issuance of a Letter of Credit for Exporters
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01
Review the letter of credit
The Bank will notify you once the letter of credit has been opened. Upon receipt, ensure that its terms correspond to the conditions of the concluded contract. If amendments are required, coordinate them with the importer.
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02
Assess your capacity to perform
Evaluate your ability to deliver the goods in the agreed quantity and within the specified timeframe, and to prepare and submit all required documents to the Bank within the stipulated deadline.
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03
Understand the applicable fees
Review the commissions and charges payable by you to ensure proper execution of the transaction.
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04
Submit documents and receive payment
Submit the documents specified in the letter of credit within the required timeframe. Upon confirmation of compliance, the funds received from the partner bank will be credited to your company’s settlement account.
Contact Us
Learn more about documentary letters of credit
If you would like to receive more information about documentary letters of credit, please complete a short application form and we will contact you.