A Letter of Credit is an international trade instrument in which the seller (the beneficiary) supplies the applicant (the buyer) with a certain amount of funds available, provided that the beneficiary of the letter of credit presents the documents required by the letter of credit. The letter of credit presents assurance for the seller (the beneficiary) that they would be able to charge for the delivered goods or services if they meet the requirements of the letter of credit. For the buyer, the letter of credit represents the assurance that the purchased goods or used services will be paid only if the presented documents meet the requirements of the letter of credit and if a commercial contract is fulfilled.
Bank offers two types of letters of credit:
- letters of demand and
- letters of credit with deferred payment.
For more information, schedule a meeting by making a call to: +382 020 481 481,or by sending an e-mail to: [email protected]
