A foreign economic contract should stipulate settlements using documentary letter of credit. Documentary letter of credit is a world-recognized and most protected form of international settlements. As a payment instrument the letter of credit is advantageous for the exporter, so that upon the shipment of goods and submission of all documents in accordance with the terms and conditions of the letter of credit, it will receive funds regardless of the importer, since in this case, the bank effects payment under the letter of credit. This instrument is, by its nature, an obligation of the issuing bank to make a payment subject to fulfillment of all terms and conditions of the letter of credit.
Ukreximbank renders services on opening and servicing export letters of credit of all types and structures and different complexity of the terms and conditions thereof.
Ukreximbank also offers additional services:
Export letter of credit is the most preferable option for entering new markets, cooperation with new suppliers. Besides, an export letter of credit may be used as a financing instrument. Ukreximbank provides support to domestic exporters and offers post-export financing services under export letters of credit.