Documentary letter of credit
Exim Banca Romaneasca takes the irrevocable commitment in the name of the client or of the importer to pay the exporter the counter value of some documents proving the goods delivery or the service performance.
Advantages:
- It the safest payment instrument for all parties involved (buyer, seller, issuing bank);
- Adaptability to various forms of international exchanges;
- Assures the covering of commercial risks;
- Covers the country risk and the bank risk of the importer, if the letter of credit is confirmed;
- Assures the protection offered by the uniform approach of all bank, being internationally regulated (Publication 600).
Import letter of credit
For the importing companies (buyers) the documentary letter of credit assures the payment safety only after the goods/service were delivered/performed.
Advantages:
- The payment of the purchased goods counter value will be conducted only on presenting delivery documents strictly matching the terms and conditions of the letter of credit;
- The safety that delivery will take place on the preset term;
- Reduces the exporter’s non-performance risk.
Export documentary letter of credit
For the exporting companies (sellers), the documentary letter of credit assures the safety of receiving the countervalue of the delivered goods.
Advantages:
- Collection of the delivered goods counter value in full safety;
- Reduction of risks associated to goods/service export;
- Strengthening the commercial relations with partners.