Whether you are an importer or exporter, a letter of credit will help you to avoid international trade related risks.
Import letter of credit enables you to effect the payment of commodity price to foreign suppliers, covering at the same time your commercial risks. In order to receive the payment, your partner shall need to declare delivery documents confirming the shipment of cargo of pre-specified quantity and quality to your address. In the meantime, you bear no liability to effect payment against documents which are in contrary to the terms and conditions of L/C.
Export letter of credit ensures the payment for the cargo shipped to a foreign buyer. By opening an L/C in your favor, your partner’s bank undertakes to immediately pay the amount specified in the letter of credit, upon receipt of shipping documents which comply with the terms of L/C.
Depending on the terms and attributes of the commercial deal, ARMBUSINESSBANK CJSC will help you to make your best choice among the variety of L/Cs – confirmed/non-confirmed, revolving, stand-by or negotiable.
For additional information please call us at (010) 52-23-16;
International Operations department
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