Raiffeisen Bank
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Import documentary letter of credit with import financing
Raiffeisenbank performs the payment of an import documentary letter of credit for its client in the amount of documents submitted by the supplier (beneficiary) in accordance with the letter of credit conditions and also provides the client with deferred payment of such a liability to Raiffeisenbank, for a period of up to one year.
Benefits
- There are uniform international rules for letter of credit transactions.
- Raiffeisenbank guarantees payment by the client/buyer and, after the performance of the conditions required by the letter of credit, performs its settlement.
- The deferral of the due date of liabilities under a documentary letter of credit for a period of up to one year.
- The use of a time deferral of payment for a delivery of goods.
Import financing is suitable in particular for trading companies, which it enables to sell and receive payment for goods before the due date of a liability against Raiffeisenbank.
Issuance of import documentary letter of credit with import financing
- Raiffeisenbank issues an import letter of credit based on a request by the client, up to the amount and for the term of the contractually approved conditions.
- In the request for issuance of a documentary letter of credit, the client specifies the conditions under which the bank can release payment in favour of the supplier (beneficiary) together with a request for the provision of import finance.
- Based on a request presented, Raiffeisenbank concludes a contract with the client on the opening of a documentary letter of credit with import financing.
Collateral
The requirements for collateral for an import documentary letter of credit with import financing will be communicated by Raiffeisenbank in connection with the results of its review of the client’s good standing.
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