Trade Finance Transactions
The RSK Bank OJSC offers its clients services for opening and/or servicing of all major types of letters of credit.
Your advantages in calculations while using letters of credit:
- the optimal choice of the method of business financing by both as a seller (exporter) and a buyer (importer);
- mutual benefit of relations participants in terms of payment discipline and delivery of goods;
- proof of reliability of your company through collaboration with first-class banking institutions of different countries;
- advice of the RSK Bank for the optimization of the transaction terms;
- minimizing the risk of the supplier not fulfilling his obligations on the delivery of goods;
- making payments only after fulfillment of all obligations by the Seller (shipment of goods, documents, etc.);
- structuring of payment schemes under the contract, taking into account their interests;
- protection against commercial risks, minimizing the risks in partnership with a new counterparty.
Bank provides the following types of guarantees:
1. Tender guarantee (tender, bid) is for provision of payment demands of a party- organizer of a tender in relation to the Principal.
2. Advanced repayment guarantee is the Bank's obligation to return the advance amount (or its undrawn part) in case of nonperformance by the Principal of his obligations due to supply of goods, services, etc. specified by the Contract.
3. Performance guarantee is the obligation of the Bank to pay the specific amount, fines to the Beneficiary upon his demand in case of nonperformance or inappropriate execution by the Principal of his obligations subject to the concluded (agreement) contract.
4. Payment guarantee is the Banks' obligation for provision of payment obligations of the Principal before the Beneficiary. This type of guarantee is applied in case of payments settlement performance due to receipt of the goods (services) by the Principal or in case of application of commodity credit.
5. Guarantee for customs payments is the Bank's obligation for provision of payment of customs duties and fees. This guarantee is given to the import-companies for execution of customs payments and necessary amounts of expenditures, fine sanctions and etc. for customs bodies.
6. Counter-guarantee is a guarantee that can be presented by the Bank in favour of the other Bank, including foreign bank, for the purposes of the guarantee security, issued by this Bank to the Beneficiary at the request of the Principal.
Guarantees are issued for:
- pledge of real property;
- pledge of monetary funds of the Principal;
- pledge of monetary funds of the third parties presented for security of guarantee of the Principal.
Your advantages in using the bank guarantee:
- minimizing the risks, security in the calculations and the performance of contractual obligations;
- receipt of the guarantee payment in case of full or partial non-fulfillment of obligations by the buyer;
- expanding the base of counterparties and increasing the markets for goods;
- receiving goods without prepayment;
- receiving payment deferment for delivered goods from the seller;
- compensation in the amount stipulated upon violation of the terms of delivery by the seller.
In case of any questions please contact the Head Office, 37a Molodaya Gvardiya, tel: 65-38-14, 46-07-21 Branches of the Bank are in Bishkek as well as in regions of the country.
If necessary, staff of the Head Office will give any necessary advice to clients of the branches by the tel.: 65-38-14, 46-07-21