Documentary operations
Documentary Letters of Credit
Performing settlements in the form of documentary letter of credit is governed by Uniform Customs and Practice for Documentary Credits approved by the International Chamber of Commerce, as well as by the current Law.
Bank guarantees and stand-by Letters of Credit
Bank guarantees and stand-by Letters of Credit are the method securing payments under a contract that provides for the possibility to get payment from the guarantor bank in case of breach of counterpart’s obligations under the contract.
Documentary collection
Documentary collection is the form of settlements when the bank acts as a payment agent on settlements between an exporter and an importer. It delivers to the importer on the instruction of the exporter or its bank shipping documents or service rendering documents and collects the appropriate sum of money or receives a draft accepted by the buyer against the documents presented.