Growing Interest of Bank Respublika’s Corporate Clients in Letters of Credit and Guarantees.
Minimizing commercial risks and increasing reliability of settlements is critical for corporate clients, now more than ever in today’s economic environment. Growing interest of companies to this product and stable growth rate of transactions indicate sustainable tendency to transition to new settlement forms. Documentary transaction portfolio of Bank Respublika has increased twice in the 1st quarter of 2018, while number of transactions has grown 3 times compared to the same period of previous year.
Bank Respublika has significant experience in servicing external economic contracts of their clients. The Bank, being one of leaders and prestigious financial institutions in Azerbaijan, has partnered with other renown partner banks to offer its clients cooperation on documentary transactions in the following areas:
All types of bank guarantees;
Documentary letters of credit;
Stand-by letters of credit;
Documentary encashment and remittances.
Advantages of international trade finance with Bank Respublika are:
Ability to utilize verification by first-class international banks partnering with Bank Respublika;
Cost of trade finance which is on the average lower than costs of traditional financing;
Ability to receive multiple guarantees within one framework agreement on bank guarantees;
Individual approach in setting terms and conditions of cooperation and servicing;
Free information-advisory support to clients with regards to arranging and implementing any types of trade finance operations;
Client (Buyer) does not needs to make advance payment with an available bank guarantee, enabling the client to make more effective use of financial tools.
«Bank Respublika has many years of experience in implementing such transactions and has set out certain techniques for it, which enables the Bank to issue letters of credit in the shortest period of time. Due to wide branch network throughout the country most remittances are implemented within the same financial structure, resulting in decrease of overall transaction costs and increase in speed of transaction. As a rule, after first experience of LC use, the client usually prefers this form of settlements in the future as well” – stated Mr. Sadiq Ibadov - the Head of Corporate Sales Department at Bank Respublika.
For more detailed information please visit the Bank’sоfficial webpage , facebook pate or by calling 144 Call Center.