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Documentary letters of credit

Documentary letters of credit

The letter of credit is the most frequently used form of payment in international commerce, offering different options for conducting import, export or commercial agency transactions. This form is particularly suitable for payments between counterparts, who do not know each other well. The letters of credit provide a guarantee to the seller that he will receive payment upon fulfilment of the conditions and terms, specified in the letter of credit itself and for the buyer – that he would receive the commodity/service following presentation of the property disposal documents, in full conformity with the terms and conditions of the letter of credit.

By issuing documentary letters of credit International Asset Bank AD undertakes a commitment to pay a supplier/reexporter/vendor a specified amount in the name of its client (buyer/importer), on condition that the seller would fulfil the conditions, determined in the letters of credit (at the time of its issuance).

  • Issuance and processing of import letters of credit. Where required International Asset Bank AD is able to ensure as an addition to the letter of credit confirmation from first-class foreign financial institutions;
  • Advising, checking, processing and forwarding of documents in regard to letters of credit, opened in your favour (export letters of credit, transfer of letters of credit, issuance of assignments). By agreement with the client International Asset Bank AD may add its confirmation to the letter of credit;
  • Discounting of expected income under letters of credit for export performed.
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