Documentary and Guarantee business
Letters of credit
Letter of Credit (L/C), is the safest payment instrument, which provides maximal protection to the importer/buyer as well as the exporter/seller. For your needs we offer the following:
Nostro (import) letters of credit
At your request and for your account, in accordance with the received instructions, we open letters of credit based on deposited funds or with postponed cash cover (at the latest 5 days before maturity date )
Our obligations are to open:
- L/C payable at our bank’s counters or counters of other nominated banks,
- L/C payable at sight, with deffered payment, with acceptance or negotiation.
- L/C nontransferable, transferable, revolving, stand by letters of credit
- L/C unconfirmed and confirmed
With opening of L/C we perform three basic functions:
- payment (ayment is conditional payment, since we are effecting payment at an order and for account of the importer/buyer provided that presented documents under l/c constitute complying presentation).
- security ( we guarantee to the exporter/seller that having fulfilled L/C conditions he will receive the funds in value of documents upon delivery of goods or performance of services).
- Financing (we are financing importer/buyer up to the designated maturity date).
Loro (export) letters of credit
Having correspondence relationships with extended network of banks, and with specialised and experienced employees, we can offer following services:
- Checking up correctness of loro L/C content, sent through the bank,
- Consulting regarding preparation of the content of Loro L/C,
- Advising of loro L/C received from Issuing bank.
- Transfer of L/C (according to the l/c beneficiary’s instruction),
- Confirmation of L/C (according to instructions of Issuing bank)
- Consulting regarding fulfilling of L/C conditions and preparation of the documents
Documentary collections
We also provide service referring to the collection of documents entrusted for payment, intermediation regarding collecting of funds, as well as sending documents for payment. Those are usually commercial, but also financial documents. Within that scope we are offering consulting services connected with the work with international bills of exchange, their filling in, accepting etc
The advantages of collection operations are:
- simpler and cheaper operation,
- faster payment than the “open” payment;
- securities and documents guaranteeing ownership over the goods are handed to the buyer upon the invoice acceptance or payment (CAD, D/A, D/P);
- a possibility of financing through discounting an accepted promissory note.
Document cash in
Contact us for more information:
- tel: 201-13-71 and 201-13-77
- e-mail: akreditivi_inkasa@bancaintesabeograd.com
Guarantees
Guarantee is a security instrument under which Issuing bank undertakes to pay on demand to the Guarantee Beneficiary, up to the maximum guarantee amount, in the case of non payment or non performance of contractual obligations by the Ordering party.
Nostro guarantees
Within our scope of business we issue and advise all types of bank’s guarantees:
1. Payment guarantees
- guarantees for payment
- guarantees for security of payment obligations under Loan agreements
2. Performance guarantees
- Advance payment guarantees
- Performance guarantees
- Auction guarantees
Elements of guarantees and standard models of guarantee forms are taken from the publication URDG, ICC 758, but are adjusted to the concrete requests and necessities of the participants in the commercial affair and in accordance with our business politics.
Loro guarantees
Working with loro guarantees we are offering following services:
- Advising of guarantees according to the instructions of the Issuing bank,
- Checking of the conformity of guarantee content, received through the BANK by SWIFT or directly by the beneficiary of the guarantee.
- Consulting in preparing of the claims and sending of the claims (request for payment) under loro guarantees.
