Sberbank's financing of payments under the L/Cs issued by counterparty banks.
- Finance is provided under a letter of credit issued by the counterparty bank for the supplier
- Sberbank of Russia grants a loan to the counterparty bank that issued the said L/C for making the payment under the L/C in favour of the supplier.
- Exporters and suppliers of goods and services in Russia that should grant a delay of payment to their contractual counterparties.
Advantages and opportunities:
- Receipt of proceeds for the shipped goods, replenishment of the client's working capital without an increase of the loan debt and making loan agreements
- Possibility for the supplier's counterparty (buyer) to obtain a loan at Sberbank of Russia (on favourable terms)
- Minimisation of non-payment risk for the exporter and non-delivery risk for the importer
- The exporter's capability to increase the scope of supply and work, inter alia, with unknown partners.
- The supplier collects the proceeds several days after submission of shipping documents to Sberbank of Russia;
- The buyer can, according to the contract, using the loan provided to its bank, obtain a time extension and sell goods to repay the debt.
- L/C commission.
- Export mainly to CIS countries
- Loro account of the counterparty bank opened with Sberbank of Russia
- The finance amount does not exceed the limit established for the correspondent bank.
Moscow Bank - Trade Finance Operations Department