Trade finance and documentary operations
Financing of international trade
In the international business practice documentary letters of credit and bank guarantees are mostly used as instruments of financing of international trade.
Import financing
Finance import contracts of clients (importers of equipment, components, raw materials and manufacturing materials), payments under which must be effected by irrevocable letter of credit (LC) issued by bank in favour of exporter by the order of client-importer.
Export financing
Financing of export contracts of our clients, payments under which are effected by irrevocable letter of credit (LC) issued in favour of client-exporter and confirmed by the bank, and, at the same time, the bank can render services of pre- and post-export financing.
Structured trade finance
Along with classical loan products Ukrsotsbank offers structured trade finance, the main principles of which are:
Project financing secured by ECA guarantees
Ukrsotsbank organizes a long-term Financing of clients&rasqo; projects by foreign banks under guarantees granted by export credit agencies (ECA).
Documentary letters of credit
Documentary Letter of Credit (LC) shall mean a method of payment where bank by the order of its client (buyer under contract/applicant under LC) is obliged to effect payment in favour of seller (beneficiary) for shipped goods and/or performed works, and/or rendered services against specified documents if terms and conditions of LC are fulfilled.
Bank guarantees
Bank guarantee shall mean an irrevocable commitment of bank to pay a certain amount to beneficiary if the third party (principal under guarantee) fails to fulfill its obligations to beneficiary.
Documentary collection
Documentary collection shall mean a method of settlements where seller entrusts the bank to receive from buyer (through intermediary of buyer’s bank or other bank) a payment against documents certifying shipment of goods, performance of works or rendering of services. Executing collection transactions, banks are acting as authorized persons and intermediaries between seller and buyer.
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| 17.05.2012 | Bid | Ask |
| UAH/USD | 8.02 | 8.05 |
| UAH/EUR | 10.10 | 10.30 |
| UAH/RUB | 0.250 | 0.263 |
| UAH/CHF | 8.50 | 8.80 |
| All currenciesArchive of currencies |
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| 17.05.2012 | Bid | Ask |
| UAH/USD | 8.047 | 8.057 |
| UAH/EUR | 10.240 | 10.255 |
| UAH/CHF | 8.525 | 8.535 |
| All currenciesArchive of currencies | ||
