Are you a seller who often hears that your customer will only agree to pay for the goods upon delivery? Are you a buyer whom the seller wants to make prepayment, but you would not take risks?
The Documentary operations products let you minimise counterparty confidence, reliability and experience risks in foreign economic transactions as well as optimise settlement costs. Co-operation with us gives you the opportunity to have your documentary instruments confirmed by the world’s first-class banks because our Bank has partnership relations with the leading banks of the world while also being an active participant of the trade development programmes of the international finance institutions.
We offer you the following types of Documentary operations transactions:
An Letters of Credit is a universally accepted tender of payment for foreign trade transactions and represents the most flexible and the safest form of settlements in use in many countries. The use of an Letter of Credit provides for the most reliable and the quickest derivation of revenues while letting you avoid having to make prepayments. This form of settlements protects the interests of both the seller and the buyer of goods and/or services. Therefore, if you wish to initiate partnership with new counterparties and minimise the related risks, contact Unibank where there are always the ready-made solutions for you and for your business.
Benefits of using Letters of Credit
A bank guarantee is a reliable means of protecting your company from the possible failure of contract obligations by the counterparty.
To minimise your risks the Bank offers you the issue and advising of the following types of bank guarantees at beneficial conditions:
The corporate customers of Unibank can also use the documentary collection service whereby we, acting as the remitting bank, send the documents specified in the contract (invoices, waybills, insurance and customs documents, etc.) to the importer’s bank for collection; the importer’s bank, in turn, will forward the documents to the payer in accordance with the instructions and against payment or acceptance.
The documentary collection provides greater security guarantees in comparison with a direct wire transfer because it will not let the buyer to receive the executive and accompanying documents and as a result the goods without having paid for the goods previously. Another advantage is, the customer spends less on bank fees. The payments are made faster in comparison with settlements over an open account.
Detailed Information about Collection