If you participate in international trade or you are dealing with selling of goods and providing services domestically, Sberbank Serbia a.d. has an extensive range of documentary operations products to offer.
Our team of experts will select the most suitable security and payment instrument for you, together with providing highly professional consulting services in connection with selling of goods and providing services domestically and abroad, stipulating financial clauses, making draft versions of letters of credits and guarantees.
By selecting the most suitable model for execution of your transactions, we will enable their safer performance and protection of your interests.
Documentary letter of credit represents one of the safest payment instruments in international trade. The principal makes available a certain amount of foreign currency to the user through the bank, which the user of letter of credit can collect only after fulfillment of its contractual conditions. As means of securing irrevocable payment of contractual obligations, documentary letter of credit provides security for exchanging and collecting goods and services. Letter of credit equally protects both parties, the importer / buyer and the exporter / seller, if the contracted conditions are fulfilled:
Buyer is assured that he will receive contracted goods and services
Seller is assured that he will collect contracted goods and services
Nostro, Loro and Standby letters of credits are available to our clients:
Nostro (import) letters of credit are opened by order of domestic clients (importers) in favour of foreign seller (exporter)
Loro (export) letters of credit are opened to domestic buyers (exporters)
Standby letters of credit oblige the bank to pay the letter of credit to the user on the basis of written statement that the principal has not fulfilled its obligations
Bank guarantee is an instrument of security that represents irrevocable obligation of the bank to pay certain amount of funds, if the subject for whom the bank issues the guarantee, has not fulfilled its contractual obligations. It is common practice that domestic and foreign partners request your bank’s guarantee.
Sberbank issues and advices different types of guarantees:
for security of payment obligations
for return of advance payment
for fulfillment of obligations within the guarantee period
D/P transactions (documents against payment transactions)
Documentary collection is a written order by the exporter to the bank to deliver presented documents to the importer, on the basis of which the importer can have access to the goods, but only upon fulfillment of certain collecting conditions (against payment, acceptance of bill of exchange or other agreed conditions).
The main prerequisite for using documentary collection in international trade is that the subjects know and consider each other as reliable business partners.
Advantages of documentary collection are low costs, simple procedure and risk distribution between business partners.
For more information about this offer please visit the nearest branch of the Sberbank or contact our Contact Centre at +381 11 2257 498