Import letter of credit
Letters of Credit (L/C) play a key role in international trade, protecting importers and exporters to avoid international trade risks, allowing you to trade safely in unfamiliar markets.
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If the customer is purchasing goods and equipment from abroad, Import Letter of Credit (L/C) is the most suitable and commonly used service which helps parties to mitigate their foreign trade risks.
L/C payments are available
- By payment (at sight payment)
- By deferred payment
- By negotiation
- By acceptance
- By mixed payment
L/C payment sources
- Covered Letter of Credit – L/C is paid using customer’s cash margin, placed with the bank before issuance of L/C
- Uncovered Letter of Credit – L/C is paid under bank credit approval
Confirmed import L/C scheme
Unconfirmed import L/C schheme:
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Import L/C charges and fees
- Issuance – 0.2% (150 USD- 350 USD)
- Transfer of payment (starting from 2nd payment) – 50 USD
Additional service charges (requested by customer)
- Increase of L/C amount – 0.15% (50 USD – 150 USD)
- Amendment in L/C terms and conditions – 50 USD
- Cancellation – 60 USD
- Per each discrepant document package – 50 USD
- SWIFT Inquiry – 25 USD
- In issuance of uncovered L/C, the risk management fee and L/C interest will be added.
Other charges and commissions required by international banks will be collected from Applicant as per L/C terms and conditions.
Required documents:
- A bank application form PDF download
- Trade contract (commercial invoice)
- In terms of uncovered L/C, the loan origination documents will be required
Contact:
- Address: Head office of Golomt Bank, Trade and structured finance department
- Phone number: 7575 1111 /1554, 1380/
- Email: tf@golomtbank.com
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