Within the framework of the European Bank for Reconstruction and Development’s “Trade Facilitation Programme,” AccessBank offers up-to-date trade financing products, such as letters of credit (L/C) and letters of guarantee. The importance of trade financing products like these will rise with Azerbaijan’s integration into the world economy and will enable AccessBank’s customers to enjoy legal cooperation with international partners, including those in Europe.

A letter of credit is a document drawn up by AccessBank at the request of a customer. It ensures that payment will be made for goods purchased in line with the terms and conditions of the sales contract. Letters of credit provide business payment and financing.

An import letter of credit is a guarantor document ensuring that a buyer will make payment for goods purchased. It gives the importer a wide range of opportunities. Once the seller (supplier) provides the necessary documentation to AccessBank to show that goods have been supplied according to the conditions of the contract, payment is made. Payment is postponed immediately if the documents presented by the supplier do not meet the requirements of the sales contract.

An export letter of credit gives peace of mind when it is difficult to be sure that foreign partners are able to make payments. In this case, the purchaser opens a letter of credit at the bank where their obligations have been undertaken. The purchaser’s bank makes payment as soon as the seller submits documents confirming the delivery of the goods.

AccessBank also provides the bank guarantees listed below for national and international trade.