Financing via confirmed Letter of Credit
Confirmation of the Letter of Credit issued by a foreign bank for settlements under the export contract. Post-financing or discounting could be provided if required
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Description of the service
Eximbank of Russia confirms a Letter of Credit issued by a foreign bank.
The solution allows beneficiary (exporter) and applicant (importer) to arrange settlements through an understandable and comfortable tool: the payment is guaranteed against the documents stipulated by the Letter of Credit.
Funding can be provided:
The solution allows beneficiary (exporter) and applicant (importer) to arrange settlements through an understandable and comfortable tool: the payment is guaranteed against the documents stipulated by the Letter of Credit.
Funding can be provided:
- by post-financing (delay in payment compensation);
- by discounting the payment under the Deferred payment Letter of Credit
How to get the service
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A foreign buyer enters into an export contract with an exporter
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Foreign buyer's bank (issuing bank) will issue a letter of credit in favor of the exporter
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Eximbank of Russia will endorse the letter of credit
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The exporter delivers goods (works, services) under an export contract
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Exporter will submit to Eximbank of Russia the letter of credit documents and will receive payment within the period provided for by the letter of credit