Letter of credit

The letter of credit is a generally accepted method of payment for foreign trade operations, as well as a faster and safer form of payments applied in many countries of the world. The use of documentary credit eliminates the need for prepayment. This form of payment provides high-level interests of both the seller and the buyer of goods and services.

Advantages for the importing (procuring) party:

  • It is guaranteed that the payment will be made only after the seller has fully complied with its obligations under the terms of the contract
  • It is possible to achieve a postponement of payment for goods and services without the use of liquid funds;
  • You can be assured of delivery of the goods at the set time according to the time frame of the open letter of credit;
  • You can be sure of a thorough check of all documents.

Advantages for exporting (selling) side:

  • Prevent the risks associated with the buyer's evasion or bankruptcy-in the case of providing the bank with the relevant documents under the letter of credit, you can be sure that the payment will be made by the bank in the near future.

AccessBank offers the following types of letter of credit:

  • Direct letter of credit;
  • The approved letter of credit;
  • "Stand-by" letter of credit

Currencies Rates

19.03.2019 BUY SELL
USD 1.6971 1.7015
EUR 1.8902 1.9481
Non-cash payment

Non-cash payment

19.03.2019 BUY SELL
USD 1.6971 1.7015
EUR 1.9095 1.9442
GBP 2.2116 2.2793
RUB 0.0260 0.0267

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