In order to support your foreign operations and to meet your needs, Partner banka issues documentary letters of credit, in accordance with the client's request and instructions.
A documentary letter of credit is a payment instrument whereby the Bank undertakes to pay an exporter/importer via their Bank in exchange for a duly received full set of documents as stated in the conditions for opening the letter of credit, provided the documents have been submitted to the Bank within a predetermined period of time.
Based on the payment method used, there are the following letters of credit:
- Payment at sight (immediate payment upon presentation of the required documents)
- With deferred payment (payment is delayed for a predefined period of time, related to the invoice, delivery and the like)
Documentary letters of credit may be:
- Documentary letters of credit with deferred deposit
- Documentary letters of credit with deposit made
Revolving framework for letters of credit
If you frequently need to open a letter of credit, we can offer the Revolving letter of credit framework, enabling the Bank to open a letter of credit in a speedy and simple manner. The l/c will be opened by the Bank upon receipt of Order 15 and the relevant documents, and the Bank will open a letter of credit without the need to sign aditional, individual contracts on documentary letters of credit. |
