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Reliable instrument that ensures effecting of payments.
Documentary letter of credit – bank’s obligation issued as per buyer’s (applicant’s) instructions to make a payment in seller’s (beneficiary’s) favor subject to receipt of documents which confirm shipment of goods and comply with letter of credit terms.
|For buyer (applicant)||For seller (beneficiary)|
|Conditions of letter of credit issuing|
|Amount and validity||as per contract requirements|
|Requirements for collateral||cash cover, property rights for deposit||real estate, equipment, vehicles, other assets and their combination|
|Insurance of pledged property||-||at any insurance company approved by the bank on client’s choice|
|Commission for letter of credit issuing||2%-2,4% p.a., min. 33 USD  per month – in case of commission payment on a monthly basis / min. 100 USD  per quarter – in case of commission payment on a quarterly basis||3.5% p.a., min. 33 USD  per month – in case of commission payment on a monthly basis / min. 100 USD  per quarter – in case of commission payment on a quarterly basis|
|Other bank’s commissions under issued letter of credit ||1) commission for amendment of letter of credit: 50 USD /each amendment (except of amendment in part of amount increasing or prolongation)|
2) commission for letter of credit cancellation (one-time): 50 USD 
3) commission for taken-up documents and/or payment: 0,2% from the amount of documents, min 100 USD / each package of documents
4) commission for discrepancy in documents: 50 USD  /each package of documents
5) commission for issuing letter of credit in SWIFT-message form (one-time): 25 USD 
|Other possible costs||1) payment for the services of third parties (insurance company, notary, property appraiser, etc.) - according to the tariffs of such third parties chosen by the client for receiving the relevant services|
2) third bank’s commissions (advising bank, confirming bank, correspondent bank etc.) – in case of occurrence should be paid according to the tariffs of such banks.
 commission for letter of credit issuing /other bank’s commissions could be set individually as per arrangement with a client
 commission indicated in foreign currency to be paid as per official NBU rate indicated on the date of its payment
Package of documents required for letter of credit issuing depends on structure of the operations and collateral. You can obtain detailed information by contacting your personal manager or by visiting our branch in your city/town.