Menu
EN
0 800 30 0004 from 09:00 till 18:00
0 800 30 0004 from 09:00 till 18:00
About Bank
i-Bank
Internet banking
Internet banking
private clients
Login Registration
corporate clients
Login Registration
Mastercard loyalty program
Gift catalog Mastercard

Documentary letters

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.


Advantages

For buyer (applicant)For seller (beneficiary)
  • possibility to obtain deferred payment;
  • absence of risk of non-delivery / delivery in incomplete volume;
  • extension of trade relations geography;
  • much cheaper tool than traditional lending.
  • absence of risk of non-payment for delivered goods;
  • receipt of funds under letter of credit in short terms after shipment of goods;
  • extension to new markets;
  • absence of risk of buyer’s refusal from goods which were delivered in time and in full volume.


Conditions of letter of credit issuing
Amount and validityas per contract requirements
Requirements for collateralcash cover, property rights for depositreal 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[1]2%-2,4% p.a., min. 33 USD [2] per month – in case of commission payment on a monthly basis / min. 100 USD [2] per quarter – in case of commission payment on a quarterly basis3.5% p.a., min. 33 USD [2] per month – in case of commission payment on a monthly basis / min. 100 USD [2] per quarter – in case of commission payment on a quarterly basis
Other bank’s commissions under issued letter of credit [1]1) commission for amendment of letter of credit: 50 USD [2]/each amendment (except of amendment in part of amount increasing or prolongation)
2) commission for letter of credit cancellation (one-time): 50 USD [2]
3) commission for taken-up documents and/or payment: 0,2% from the amount of documents, min 100 USD [2]/ each package of documents
4) commission for discrepancy in documents: 50 USD [2] /each package of documents
5) commission for issuing letter of credit in SWIFT-message form (one-time): 25 USD [2]
Other possible costs1) 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.

[1] commission for letter of credit issuing /other bank’s commissions could be set individually as per arrangement with a client

[2] 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.

Application

Rate branch performance
How to add a card to Google Pay
Card to card transfers
Internet-banking «i-Bank»
Payment for credit, utilities and services
Credit calculator
Promo campaigns
Feedback
Request for statement
Request for GSM banking
Bonus Program MasterCard® Rewards