The Bank will make the payment only after the seller duly submits all documents required by the LC.
Benefits
EXPORTS (FOR SELLERS) |
IMPORTS (FOR BUYERS) |
Buyers may not defer payment based on a personal complaint. |
The goods will be supplied within terms specified in the LC. |
If buyers wish to make a complaint regarding any issue related to the goods supplied, they must do it independently from the LC. |
Buyers will receive documents requested in the LC by a specified date. |
If the buyer wishes to complain about the goods, he must do so separately from the letter of credit |
Buyers can be sure that they will only pay if the documents comply with LC requirements in all respects. |
The Bank will cover the full amount of purchase as specified in the LC independently from the seller. |
By opening an LC, importers provide evidence of solvency and can negotiate more convenient payment terms. |
An LC provides much faster payments for goods exported. |
BANKING OPERATION |
RATE |
Acceptance and verification of documents by TBC Bank |
0.1% - at least 100 units (in the currency of the letter of credit) |
Making a change in the letter of credit/advising the change |
90 units (in the currency of the letter of credit) |
postage |
60 units (in the currency of the letter of credit) |
Discounting/financing |
By agreement |
BANKING OPERATION |
RATE |
Acceptance and verification of documents by TBC Bank |
0.1% - at least 100 units (in the currency of the letter of credit) |
Making a change in the letter of credit/advising the change |
90 units (in the currency of the letter of credit) |
Transfer of letter of credit |
0.15% - minimum 100 units maximum 500 units (in the currency of the letter of credit) |
postage |
60 units (in the currency of the letter of credit) |
Discounting/financing |
By agreement |
Telecommunication |
10 units (in the currency of the letter of credit) |
Fee for early cancellation of letter of credit |
According to the fact, in accordance with the request of the foreign bank |
Endorsement of letter of credit |
0.15% - minimum 80 units maximum 400 units (in the currency of the letter of credit) |
Other Costs |
According to the fact, in accordance with the request of the foreign bank |