The documentary operations are the most advanced instrument used in the international trade. Organisations and private entrepreneurs engaged in sales and purchase operations using this tool can insure them against potential financial risks. “Bank Eurasia” OJSC provides its corporate customers with the following documentary operation services in order for the international co-operation to be comfortable and rested on mutual confidence:
- LCs;
- Collection;
- Guarantees
The Documentary Letter of Credit (D/C) – is the obligation of the issuing bank (the buyer’s side) to pay the beneficiary bank (the seller’s side) a certain amount as instructed by the customer on receipt by the issuing bank of the appropriate (transport, insurance, customs, commodity and so forth) documents. The D/C provides reliable protection against the risks that could arise amongst parties in the international trade.
Operation | Currency | ||
AZN | USD | EUR | |
Opening of the letter of credit | |||
– up to 500000 AZN/USD/EUR | 0,2% | ||
min 50 | min 50 | min 50 | |
– 500001-1000000 AZN/USD/EUR | 0,15% | 0,15% | 0,15% |
– 1000001 AZN/USD/EUR and more | 0,1% | 0,1% | 0,1% |
Aviso of the letter of credit (without bank approval) |
0,1% | ||
min 30 max 300 |
min 30 max 300 |
min 30 max 300 |
|
Check up of documents (for each sent document) | 0,1% | ||
min 30 max 300 |
min 30 max 300 |
min 30 max 300 |
|
Money transfer under the letter of credit to beneficiary bank (for each transfer) |
0,1% | ||
min 50 max 300 |
min 50 max 300 |
min 50 max 300 |
|
Confirmation of the letter of credit (monthly or by parts) | Based on agreement | ||
Delayed payment (are taken additionally from the transfer commission of letter of credit) |
30 | 30 | 30 |
Changing the conditions of letter of credit | 30 | 30 | 30 |
Transfer of the letter of credit | 0,1% | ||
min 50 max 300 |
min 50 max 300 |
min 50 max 300 |
|
Increasing the amount of letter of credit | 0,2% | ||
min 50 | min 50 | min 50 | |
Cancellation of letter of credit | 100 | 100 | 100 |
Post services (for each sent parcel) | 50 | 50 | 50 |
Note: Commission fees of correspondent bank are withdrawn additionally. If documentary letter of credit is opened according to the credit line in loan account or credit line of letter of credit, both the credit line interests and operational commissions on current tariffs are withdrawn.
The documentary collection consists in the beneficiary bank sending the issuing bank all the documents as instructed by the seller. Such documentary collection operations are usually used in a kind of co-operation that is based on mutual confidence as can be seen from that a seller sends the goods ordered without having any guarantee on the part of a buyer.
Operation | Currency | ||
AZN | USD | EUR | |
Taking documents to encashment | 0,2% | ||
min 30 max 100 |
min 30 max 300 |
min 30 max 300 |
|
Delivery of documents to payment or confirmation | 0,1% | ||
min 10 max 100 |
min 10 max 300 |
min 10 max 300 |
|
Changing of conditions | 10 | 10 | 10 |
Payment refusal and returning not confirmed documents | 30 | 30 | 30 |
Post services (for each sent parcel) | 50 | 50 | 50 |
Note: Commission fees of correspondent banks are withdrawn additionally.
The guarantee is the obligation of the issuing bank to pay the seller a certain amount should the seller claim it. Thus, the guarantee is a security for the buyer’s obligation to the seller.
Operation | Currency | ||
AZN | AZN | ||
Issuing of guarantee | |||
– provided with money means | 0.1% | ||
min 50 | min 50 | ||
– not provided with money means | Based on agreement | ||
Aviso of guarantee | 0.2% | ||
min 30 max 300 |
min 30 max 300 |
||
Preparing of guarantee text | 50 | Preparing of guarantee text | 50 |
Changing the conditions of guarantee | 30 | Changing the conditions of guarantee | 30 |
Increasing of the sum for non-provided guarantee, prolongation of a term | Based on agreement | ||
Post services (for each sent parcel) | 50 | Post services (for each sent parcel) | 50 |