Post-import financing covered by foreign bank funds is the financing of an import contract of the client (Ukrainian importer) under the credit line provided to the Bank by a foreign partner (the bank) through paying by the latter of funds directly to exporter, providing the Bank with the opportunity to make a payment to a foreign bank within the specified term.
How does post-import financing work?
The Bank issues a confirmed letter of credit on behalf of the Ukrainian importer. Payment for a letter of credit is made by a foreign bank directly to a foreign exporter after delivery of the shipping documents to a foreign bank. Thus, the importer is given the opportunity to receive a deferment of payment for the agreed period on the terms and conditions agreed with JSC Ukreximbank.
Lending is effected through issue of a confirmed documentary unsecured letter of credit. Payment under the letter of credit is made by a foreign bank to the account of a foreign counterparty.
|Currency of the loan||US Dollars, Euros and other currencies|
|Loan amount||Up to 100% of the letter of credit amount|
|Security||Object of lending and/or other liquid assets|