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If You are engaged in activities (including trade), in which there is a need to promptly purchase imported goods in the absence of funds in foreign currency, then the deal to open a letter of credit in our Bank is for You!
Letter of credit is a money obligation of the bank assumed on the basis of the applicant's
order (client-buyer) to pay a certain sum in the agreed currency in favor of the beneficiary (seller) after submitting the documents stipulated by the terms of the letter of credit within the specified period.

The implementation of operations in documentary letter of credit contribute to the expansion of foreign trade transactions of clients, increase cash flow, development and strengthening of trust relationships with foreign partners and their banks.

The main conditions of the deal:

  • The total period of the letter of credit with the option of post-financing/discounting/delay of payment is not more than 360 days;
  • The interest rate is negotiable;
  • Collateral - real estate, motor vehicles, deposits, special equipment and other liquid property in accordance with the legislation;
  • Mixed collateral is possible.
  • Other transaction costs - according to the rates of the foreign bank.

This financial transaction provides a number of advantages in its implementation, such as:

  • international legal reliability in the form of a payment instrument;
  • a means of quality short-term financing;
  • the ability to quickly make settlements with foreign suppliers;
  • individuality in determining the terms of service and the organization of cooperation;
  • guarantees of solvency and mutual settlements between the parties in the concluded transaction;
  • protection against the risk of non-payment by the applicant (buyer) in favor of the beneficiary (seller)

How to open an uncovered documentary letter of credit:

1 Consultation
Choose the Bank's branch convenient for You and make an appointment with the Bank's specialist. During the meeting the Bank's specialist will familiarize you with the list of documents required to open a letter of credit, will consult you on their form and content and will answer all your questions.
2 Documents collection and preparation of the application to open a letter of credit
Collect full package of necessary documents. At the meeting together with the Bank's specialist fill in the application (petition) for opening a letter of credit and submit the full package of necessary documents. Bank specialist will accept your application (petition) to open a letter of credit and the set of documents for consideration according to the established procedure
3 Consideration of the petition and decision making by the Bank in accordance with the established procedure
The period from the date of receipt by the Bank of the application (petition) for opening a letter of credit with attachment of a full package of necessary documents and the date of making a decision by the Bank on the application will not exceed 20 working days. The period of consideration of the application (petition) and making a decision depends on the completeness of the set of documents provided by you.
4 Conclusion of the agreement on opening a letter of credit and registration of collateral
If the Bank's decision is positive, you sign the relevant agreement and arrange the collateral for the letter of credit in accordance with the established procedure.
5 Opening of the Letter of Credit
Letter of credit is opened in accordance with the terms of the import contract and agreements by filling out a special application form for opening the letter of credit.


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