+7 (495) 954-7012
FINANCIAL INSTITUTIONS DEPARTMENT:
+7 (495) 952-0883
FINANCIAL MARKETS DEPARTMENT:
+7 (495) 952-7175
+7 (495) 958-5522
TRADE FINANCE AND DOCUMENTARY OPERATIONS
The Interstate Bank effects servicing of the settlements under customers’ export and import contracts in the form of transfers, collection, and documentary letters of credit in national currencies of the CIS countries and in freely convertible currencies.
A letter of credit is a convenient form of settlements both for exporters and for importers. Operations with documentary letters of credit for settlements under foreign trade contracts are regulated by the Uniform Customs and Practice for Documentary Credits (in the version of 2007), ICC (International Chamber of Commerce) Publication No. 600. Letters of credit in the RF currency for settlements within the territory of the Russian Federation are regulated by the Regulation of the Bank of Russia “On Non-Cash Settlements in the Russian Federation”.
Export letter of credits provide exporters with a reliable method of receiving payments. An irrevocable obligation of the buyer’s bank guarantees the customers payment by the importer if the documents comply with the terms of the letter of credit and are provided within the established time limits.
According to the terms of an import letter of credit, the importer receives the guarantee that the payment will be only effected on condition of provision by the seller of the documents acknowledging shipment of the goods.
Participants in foreign trade operations are provided with access to various forms of trade finance such as post-financing, pre-export financing, acceptance of letters of credit, “a forfait” operations, and others.
On the issues related to trade finance and documentary operations, please call
Republic of Armenia
Building 26/1, Vasgen Sargisyan St., Office 806-807, Erebuni-Plaza Business Center, Yerevan, 0010. Tel.: +374 (10) 528 446
Republic of Belarus
5, Pobediteley Ave., Office 409, Minsk, 220004. Tel.: +375 (17) 306 0481
189à, Moscovskaya Str., Bishkek, 720010. Tel.: +996 (312) 976 551, 976 552
CONTACTS IN RUSSIA
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