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SECURITY ON THE BASIS OF CONFIDENCE
Failure of trust frequently arises between a seller and a purchaser (a seller carries a risk of non-payment for the goods, and a purchaser carries a risk of a short delivery). Therefore, both parties seek for additional guarantees through a participation of a third party - a bank - in the transaction.
By using the documentary credits of Kreditprombank, you may indemnify your transactions and feel secure about the performance of the obligations of contracting parties.
- Documentary credit is, in essence, a faith of the bank of a purchaser and a confirming bank (in case of a confirmed letter of credit) to pay to a seller (the "Beneficiary") a certain amount against a presentation of the documents stipulated by the terms and conditions of such letter of credit within a specified period.
- Owing to a documentary credit, the beneficiary does not depend on the solvency of a purchaser and his willingness to pay, and may receive liquid funds right upon a shipment of the goods.
WHY KREDITPROMBANK?
- Professionals of Kreditprombank will help you to select a list of documents that will indemnify you and your business against an unfair performance of the covenants of a shipper to the maximum possible extent and to provide for a chain of banks charging the lowest banking commission while adhering to the international standards of banking practice.
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Documentary credits