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Foreign banking services

Documentary Credits, International Guarantees and Documentary Collection

A complete range of special services for companies active in the import/export market.

We will help you manage your business relationships with the international market, offering you our ​expertise​​ in the sector.

Are you interested in ​​Import/Export Factoring​​ or ​Import/Export Financing​​? Find out more by consulting the relevant pages.

Import and Export Documentary Credit

We support you in your international trade

Documentary credits provide an important method for settling international transactions. The Bank issues the seller with an autonomous and irrevocable commitment to make the payment, if all the terms set out in the documentary credit are fulfilled.

Stand-By Letter of Credit (SBLC)

This is an instrument by which the Bank acts as a guarantor, to protect the company if the other party to a contract fails to make payment by a set time.  It is designed to safeguard the payment of the debt linked to the transaction.

International guarantees

Various solutions to protect your business.

We help protect your connections abroad by issuing “autonomous” first-demand guarantees, i.e. assurances that are fully independent from the underlying transaction and from the relationships between the parties. Here’s how we support you:

Guarantee of payment for supply

(Payment Guarantee/Payment Bond)
This guarantees the seller that he will receive payment for the sale of goods or services.

Guarantee of tender/participation in tenders

(Bid Bond)
​This obliges the contractor to pay a certain amount if his bid is accepted but he fails to meet the conditions of tender.

Guarantee of execution of supply/contract

(Performance Bond)
This helps ensure that work or supply agreements are properly carried out, and may involve payment of compensation or the execution of a service, or completion of the work by the contractor or another party.

Guaranteed reimbursement of an advance payment

(Advance Payment Bond or even Down Payment Guarantee)
This ensures that any down payments made by the company to the contractor are reimbursed. The guarantee covers 100% of the sum advanced, which is gradually recovered through deduction as works progress or the goods are shipped.

Guarantee of maintenance

(Maintenance Bond)
Protects the company against “non apparent” defects emerging after the site has been closed and not detected at the time of provisional acceptance; it does not normally exceed 7/10 % of the works amount. It lasts for the entire maintenance period (about 1 year).

Guarantee for the payment of Customs Duties

(Customs Bond)
Guarantees any payment of customs duties for machines and goods that are temporarily imported for carrying out work and no longer re-exported. By requesting payment of this guarantee, the country’s Customs authority recovers the duties effectively evaded.

Documentary collection

Under this system, the company entrusts the Bank to collect the payments represented by these documents, which form part of its foreign operations in relation to goods. To obtain these, the foreign debtor must:

  • Pay the sum indicated in the collection mandate;
  • Assume a personal commitment for payment at a future date;
  • Make this commitment through a third party (a bank).

There are two forms of Documentary Collection:

Also known as Simple Collection, when the documents are only in the form of drafts, promissory notes or cheques.

Also known as Documentary Collection, when the documents used for collection are in the form of invoices, bills of lading, AWB, CMR, FCR, insurance documents, certificates of origin, etc.

The documentation may specify that these documents can only be consigned when one of the following occurs:

The collection mandate specifies that the documents can only be consigned if payment is made at the same time.

The collection mandate specifies that the documents will only be consigned if:

  • A commitment to pay by a set date is issued by the debtor;
  • A commitment to pay by a set date is issued by a third party (usually a bank).

The collection mandate specifies that the documents will only be consigned if there is:

  • Acceptance of a draft by the debtor;
  • Acceptance of a draft by the debtor with the endorsement of a third party guarantor;
  • Acceptance of a draft by a third party guarantor.

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Advertising message for promotional al purposes. Advertising message for promotional purposes. For the contractual conditions in relation to Documentary Credits and Stand-By Letters of Credit for Import/ Export, International Guarantees and Documentary Collection from and for abroad, please consult the information sheet available at our branches and in the Transparency of the website