A documentary credit or letter of credit is one of the most efficient forms of settlement under a commercial contract, as it increases security for the parties involved in a transaction. It also facilitates the financing of trade operations.
Bank GPB International S.A. offers a wide range of Letter of credit operations such as:
- Issuance of letters of credit available by payment at sight
- Issuance of deferred payment letters of credit
- Advising of letters of credit issued by third banks
- Confirmation of letters of credit issued by third banks
- Discounting of letters of credit issued by third banks and confirmed by the Bank
- Issuance of stand by letters of credit
- Advising / confirmation of stand by letters of credit issued by third banks
- Recommendations on payment terms of commercial contracts
Letters of credit are subject to the Uniform Customs and Practice for Documentary Credits (2007 Revision, ICC Publication No. 600).
Please contact us for more details