Documentary operations

Are you a seller who often hears that your customer will only agree to pay for the goods upon delivery? Are you a buyer whom the seller wants to make prepayment, but you would not take risks?

The Documentary operations products let you minimise counterparty confidence, reliability and experience risks in foreign economic transactions as well as optimise settlement costs. Co-operation with us gives you the opportunity to have your documentary instruments confirmed by the world’s first-class banks because our Bank has partnership relations with the leading banks of the world while also being an active participant of the trade development programmes of the international finance institutions.

We offer you the following types of Documentary operations transactions:

Letters of Credit
Guarantees
Collection of payments

Letters of Credit
An Letters of Credit is a universally accepted tender of payment for foreign trade transactions and represents the most flexible and the safest form of settlements in use in many countries. The use of an Letter of Credit provides for the most reliable and the quickest derivation of revenues while letting you avoid having to make prepayments. This form of settlements protects the interests of both the seller and the buyer of goods and/or services. Therefore, if you wish to initiate partnership with new counterparties and minimise the related risks, contact Unibank where there are always the ready-made solutions for you and for your business.

Benefits of using Letters of Credit

If you are exporter:	If you are importer:
the payment is guaranteed since our Bank carries the payment responsibility	you get the guarantee that the payment will only be made after the seller has fulfilled their obligations
the payment will be made as soon as possible once you produce the documents conforming to the LC terms and conditions	you can take the Bank’s assistance in determining the paperwork package required for submission under the LC terms and conditions
the letter of credit may be confirmed, which adds a payment obligation	you may insist on goods dispatch within a certain period pointing at the time limit under the LC of the Bank
the payment may be made via a bank in your country	we guarantee careful examination of all the documents

Detailed Information about LCs

Theory
Schemes
The LC application
The LC issue requirements

Guarantees

A bank guarantee is a reliable means of protecting your company from the possible failure of contract obligations by the counterparty.

To minimise your risks the Bank offers you the issue and advising of the following types of bank guarantees at beneficial conditions:

The payment guarantee;
The advance payment refund guarantee;
The contract execution guarantee;
The tender guarantee;
The stand-by guarantee;
The other guarantees.

Detailed Information about Guarantees

Theory
Schemes
The Guarantee Application
The Guarantee Issue Requirements

Collection

The corporate customers of Unibank can also use the documentary collection service whereby we, acting as the remitting bank, send the documents specified in the contract (invoices, waybills, insurance and customs documents, etc.) to the importer’s bank for collection; the importer’s bank, in turn, will forward the documents to the payer in accordance with the instructions and against payment or acceptance.

The documentary collection provides greater security guarantees in comparison with a direct wire transfer because it will not let the buyer to receive the executive and accompanying documents and as a result the goods without having paid for the goods previously. Another advantage is, the customer spends less on bank fees. The payments are made faster in comparison with settlements over an open account.

Detailed Information about Collection

Theory
Schemes
The Visit Card

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