Documentary letter of credit is an obligation of the bank that issued the letter of credit for the Buyer (Applicant) to make payment in favour of the Seller (Beneficiary) in a specified amount, upon condition that the Beneficiary provided the documents required by the letter of credit in due time.
The letter of credit payment method has proved in practice to be a reliable tool to protect the commercial interests of all participants of an international operation and minimize financial risks.
The Bank issues:
|irrevocable (unconfirmed/confirmed/with discounting) letter of credit||letter of credit with "red warning" etc.|
|transferable letter of credit||covered and uncovered letter of credit|
|standby letter of credit||revolving letter of credit|
Advantages of the letter of credit payment method:
|the possibility for Supplier to receive a trade credit under the letter of credit or a bank loan secured by the letter of credit revenue||effecting payments only after the detailed verification of all required documents that confirm the fulfillment of the letter of credit terms by the Beneficiary|
|the possibility of establishing additional terms (a list of documents, timing, etc.) of the contract fulfillment||declaration of funds before the beginning to work with the new international counterpart|
|operations reliability regulated by international standards||raising of the low-cost short-term funding|
|credit risks minimization||the possibility of entering new markets|
For more information about the service please contact your personal manager.
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The service provides the ability to create payments that can be paid in the self-service terminals of the AT "Alfa-Bank" network