Documentary operations is a convenient form of settlements, which allow to minimize risks for both exporters and importers sa well as to minimize potential losses from contract political and economic situation of the country. Therefore while carring out the international commercial operations, it is necessary to use reliable tools of maintenance of payments.
OJSC "RODOVID BANK" offers its clients carrying out of operations with use of:
Documentary letter of credit An instrument issued by a bank, at the request of the applicant, promising to pay the beneficiary upon his presentation of stipulated documents in accordance with the terms and conditions of the credit. |
is an obligation of the bank to pay to the seller of goods or services on behalf of the client (buyer) the certain amount in agreed currency, if the seller presents documents stipulated in the letter of credit in due time.
Documentary letters of credit are applied practically worldwide, providing the highest legal reliability owing to that they are regulated by unified international rules, instead of internal legislation.
Utilization of the documentary letter of credit adds to the seller’s confidence in receiving of funds right after shipments of goods irrespective of credibility of the buyer. At the same time the buyer will not pay before the goods are shipped in his favour.
Documentary collection – recept of due amount under the contract against transfer of corresponding documents via the bank.
Utilization of the documentary collection provides higher reliability of payment for the seller, than the payment against the fact of production supply, prevents the buyer from having goods in possession, without having paid for them, or not having accepted the draft. Documentary collections provide faster way for the seller to receive the funds comparing to the LC’s.
Thus the buyer pays against the documents confirming shipment of the goods, opposite to advance payment when there is no confidence that the seller will supply goods.
Bank guarantee
Bank guarantee is the main instrument of execution of contractual obligations in international commercial operations; bank guarantee is an independent supplement to sale and purchase contracts or granting servicest. By issuing a guarantee the bank undertakes to pay certain amount if the client fails to fulfill contractual obligations.
For detailed information please refer to:
(38 044) 255-81-40
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