Documentary operations

What we offer 

We provide exporters (sellers) and importers (buyers) with an opportunity to minimise risks related to payment for delivered goods and optimise settlement using documentary operations.

Settlement with documentary operations 


  • Icon blue and orange. Bullet points

    International payments. 
    A good way to pay for goods and services to a partner in another country.

  • Icon blue and orange. Bullet points

    Document-based settlement.
    Banks process and pay for documents only, without handling goods directly.

  • Icon blue and orange. Bullet points

    Paid by a bank.
    The importer’s bank makes the payment instead of the importer (i.e. buyer or recipient of cargo).

  • Bank fees are paid according to the trade partners’ agreement and may be covered by importer, exporter, or shared.

  • International regulations.
    A uniform standard is enforced by banks worldwide. The regulations of the International Chamber of Commerce (ICC) describe the exact procedure for each type of operation. All banks that provide these services are guided by the same regulations.

Types of documentary operations


Letter of credit

Letters of credit are used in trade operations when partners want to have payment guarantees, assurances that their contract will be honoured.

A letter of credit allows settlement for international trade operations where the importer’s bank guarantees payment to the exporter – provided that presented documents fully comply with the requirements specified in the letter of credit. 

learn more

Documentary collection

Documentary collection is used as a form of settlement for international trade partners that have been working well together for a long time.

It involves collection of a payment by the importer’s bank, which is performed within a specified time in order to pay for financial and/or goods delivery documents presented by the exporter’s bank. Documentary collection does not guarantee payment.

learn more

Bank guarantee

Guarantees are provided to the beneficiary as a collateral for the buyer’s obligation under the contract with the beneficiary (supplier).

The guaranteeing bank undertakes the obligation to pay upon receiving a claim from the beneficiary (guarantee holder) made in the event of the buyer’s breach of contract. A bank only satisfies claims made within the period specified in the guarantee and up to the specified amount of the guarantee.

learn more
QUICK LINKS
Contacts and details Exchange rates Mobile bank BluOr Bank ATM Payment for banking services Documents Pricelist Remote identification Questions and answers
BLUOR BANK
Our team Financial information Careers Financial institutions BluOr Bank API News About us
REGULATIONS
Compliance Information on processing of personal data Cookie Policy Website Use Regulations Participation in Associations Definitions
CHARITY
Charity Foundation BeOpen Bank's good deeds
Contacts
Phone +371 67 031 333
info@bluorbank.lv​
Smilšu iela 6, Rīga, LV-1050, Latvija
Payment card blocking outside working hours and on weekends +371 67092555
© 2024 BluOr Bank AS. All rights reserved.