Letters of credit

IBOX BANK offers you to make use of services of irrevocable obligations (letter of credit) to perform payments without appropriate submission of documents by seller (exporter, beneficiery).

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