A financial product under which the Bank gives a written, irrevocable undertaking, on the instructions of a client acting as applicant, to pay a specified amount to a beneficiary if the client's obligations are not fulfilled.
A payment method under which the bank irrevocably undertakes to pay a beneficiary for goods and services against the documents and within the time limits specified in the letter of credit.
Documentary collection, which comprises two types - export and import collection, is a payment method involving the presentation of documents of title to goods.
A working capital financing product under which corporate clients assign existing monetary receivables from their counterparties to the Bank for consideration.
