Letters of credit
Advantages of letter of credit payment method:
- delivery guarantee of the necessary amount of products following terms specified in letter of credit
- guarantee for all members that Bank performs its payment obligations on condition that all terms and conditions of a letter of credit are performed
- repayment guarantee for buyer in case of non-delivery (short delivery) of products in the amount of non-delivered (short-delivered)
- receipt of additional payment guarantees in case when a letter of credit is confirmed by other bank
- settlements in the form of documentary letters of credit enable companies to increase the number of trade partners, and, as a result, increase volume of production
- drawing under a letter of credit as an instrument for financing import and export
- selection of optimal and profitable operation scheme for companies as a result of consultations with experienced bank employees
IBOX BANK offers its clients the following transactions:
Letter of credit, supporting client with money on block-account – an alternative to advance, which defends the interest of buyers to the greatest possible extent.
Letters of credit secured by deposit, immovables – transactions that enable to draw money upon turnover only after shipment /delivery of goods.
Post import financing – an alternative to loan from non-resident bank, accourding to which the foreign bank pays money to the seller (exporter, beneficiary) and gives importer payment deferment under the letter of credit for a period of financing.
Department of trade finance transactions: tel.: (044) 205-44-32