The letter of credit is a form of payment when a bank irrevocably undertakes to pay a certain amount to a person called beneficiary against presenting of documents corresponding to the L/C conditions and terms.
The Bank offers to its customers highly qualified consultation in the field of documentary payments including letters of credits – a precondition for minimum risks both for the seller (exporter) and the buyer (importer).
confirmed
transferable
revolving
stand-by, etc.
The L/C is suitable especially for paying when the counter-parties under the foreign trade contract do not know each other well and are suspicious to one another. The international unified rules for L/C-s are known and approved worldwide and they are constituted in such a way as to equally protect the interests of both importer and exporter.
The Bank offers favourable service to Bulgarian exporters – beneficiaries under L/C-s payable by deferred payment, e.g. 3, 6 or 9 months after a certain date (usually the date of the transportation document). In such cases D Commerce Bank AD negotiates (discounts) the receivable under the L/C and the Bulgarian exporter receives his money within 2-3 days from the date of presenting the export documents in the bank-issuer. The deal is formed as a credit one.
For more information do not hesitate to contact the nearest branch of the Bank.
Attached forms-files:
Application form issue LC
