Documentary Оperations

Documentary transactions

Rabitabank offers its customers a wide range of modern banking services and products. The products offered by our bank, in addition to earning money, ultimately facilitate the work of customers and reduce many of their worries. Such services include the following types of documentary operations offered by the bank:

• Documentary letters of credit
• Documentary collection
• Bank guarantees
• Documentary letters of credit

A letter of credit is the safest form of payment between clients. In any transaction between businesses and organizations, Buyer and Seller, especially between parties doing business for the first time, there are concerns about whether the other party will fulfill its obligations. At such a moment, conducting a transaction on the basis of a letter of credit is the simplest and most convenient way out of the situation.

A letter of credit is a banking service in which a bank acts as an intermediary between two parties providing services to each other. A letter of credit is a conditional monetary obligation assumed by the Bank to pay the Seller for the services rendered on the basis of the Client's (Buyer's) order. The Bank fulfills its obligations after the Seller provides the Bank with official documents stating that it has fulfilled all of its obligations specified in the letter of credit (the goods were sent to the Buyer or that the service was provided to the Buyer). The bank may transfer the payment authority to another bank.

Documentary letters of credit provided by Rabitabank are the most reliable and reliable form of settlements, primarily international settlements. Settlements under the letter of credit are carried out under the control of banks and provide complete confidence that all parties to the business will comply with the terms of the signed agreements.

Benefits of using a letter of credit for the Buyer:

• Only after the Seller fulfills his obligations under the contract, he receives a guarantee of payment for the goods.
• He guarantees that he will receive the service in accordance with the terms and conditions specified in the letter of credit.
• Using the Bank's greater experience in buying and selling, you can get a discount
• Receives grace period for payment

Tariff table of a documentary letter of credit

Documentary collection is an instruction from the Seller to his Bank to receive payment from him in exchange for the transportation of goods presented to the Buyer and other documents, and to transfer them to the seller's account. After unloading the goods at the specified location, the seller submits the documents to the bank along with the collection order. The Bank submits the documents to the Buyer through the Buyer's bank against payment of the amount specified in the collection order.

Tariff table for documentary operations for collection in Rabitabank: