Letters of credit

When implementing documentary operations, JSC Belagroprombank uses standard banking products in the field of documentary business, and also offers individual settlement schemes, including using instruments of foreign trade financing in order to provide comprehensive servicing of foreign trade agreements of their clients.

A letter of credit is an obligation by virtue of which the issuing bank, acting on behalf of the applicant, must make payment to the beneficiary if all the conditions of the letter of credit are met.

A letter of credit implies an agreement between a bank and a company, according to which the bank undertakes to make a payment in favor of a third party, if all the documents provided for inthe agreement are presented and the conditions specified in it are met.