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. If you import goods or services, the use of documentary letter of credit will allow you to protect against the risk of payment in case of failure to deliver of products or to fulfill other terms and conditions provided for under the letter of credit, due to the fact that the letter of credit is an obligation of the issuing bank to make a payment only subject to compliance with all terms and conditions of the letter of credit.
Ukreximbank renders services on opening and servicing import letters of credit of all types and structures and different complexity of the terms and conditions thereof:
Ukreximbank also offers additional services:
Import letter of credit is the most preferable option for entering new markets, cooperation with new suppliers.
Due to the wide range of options available Ukreximbank may issue import letters of credit secured by customer cash (covered import letters of credit), or import letters of credit involving financing from the bank (uncovered import letters of credit) or foreign bank (post-import financing).