- Sberbank's clients interested in finance of their trade (foreign trade and domestic) operations without tying up working capital.
- Sberbank sets the limit for the amount of uncovered L/Cs issued to each Client.
Advantages and opportunities:
- The client is not obliged to have his own or borrowed funds at the date of issue of the L/C
- The limit shall be reinstated without making additional agreements
- Post-import finance may be organised (including under the guarantee of ECA)
- Possibility of issuing the L/C in a currency different from the currency of the limit (multicurrency limit)
- No security provided.
- The client's settlement of payments with the product supplier without using the Client's own and/or borrowed funds at the date of issue of the L/C.
- Limit establishment commission
- Commission for confirmation of the L/C payment
- Commission for the forced diversion of funds by the Bank (where necessary)
- L/C commissions.
- Decision on the limit establishment is made by the Loan Committee of the Bank
- Arrangement and development of finance conditions is performed conjointly with the foreign banks, if the fundraising is required
- Signature of Agreement on the Limit Establishment by the client and the bank.
- Sberbank of Russia shall assess the credit risks in order to make a decision.
Moscow Bank - Trade Finance Operations Department