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Letters of credit

Letter of Credit (Documentary Credit or L/C) is a method of payment which constitutes an irrevocable undertaking of the Bank to make a payment against the Beneficiary’s documents presentation complying with the terms and conditions of Letter of Credit.

Banca Intesa handles all types of Letters of Credit applied in international and/or Russian banking practice including:

  • Letters of Credit available by payment at sight (Sight Letter of Credit)
  • Letters of Credit available by deferred payment (Letter of Credit with Deferred payment) and others.

Banca Intesa provides the following types of operations under Letter of Credit:

  • Issuing of Import Documentary Letters of Credit (including Letters of Credit confirmed by Russian or foreign banks);
  • Advising of Export Documentary Letters of Credit received from Russian or foreign banks;
  • Acting as a Nominated Bank and Confirming Bank under Export Letters of Credit issued by Russian and foreign banks (subject to the sufficient inter-bank limit).

Main advantages of Documentary Credits:

For the Exporter/ Seller:

  • Absence of the Importer/ Buyer credit risk (Payment execution is secured by the Bank)
  • Double assurance of payment execution in case of Confirmed Letter of Credit
  • Mitigation of the risk that the Importer/Buyer won`t accept the delivered goods or services provided
  • Produced goods or services provided competitive strength reached through advantages of applied trade finance instruments

For the Importer/Buyer:

  • Assurance of purchased goods shipment or services providing in due time as well the appropriate documents preparation for customs clearance procedures ;
  • Opportunity to conclude contracts on more comfortable economic terms (price, payment period, etc)
  • Opportunity to monitor each project stage performance
  • Alternative to advance payment
  • Opportunity to receive financing from the Bank for effecting payments under L/C.

COST OF LETTER OF CREDIT* FOR CLIENTS OF BANCA INTESA

Banca Intesa commissions and charges
Other banks commissions and charges
  • Confirmation fee (applied for LC tenor):
  • Deferred payment fee (If LC is available by deferred payment)
  • Other bank charges and commissions in accordance with the Rates offered by the Bank participating in LC transaction

* L/C structure as well as amount of bank charges depend on the terms and conditions of the corresponding concluded agreement on L/C issuance and financial standing of the Client

Bank Guarantees

Banca Intesa handles all types of Bank Guarantees including Stand-By Letters of Credit applied in international or Russian banking practice and required by your Company.

We offer the following types of Bank Guarantees:

  • Payment guarantee
  • Advance payment bond
  • Performance bond
  • Bid bond
  • Guarantee in favour of the Customs Authorities of the Russian Federation
  • Bank guarantees in favour of the Tax Authorities of the Russian Federation:
  • State contract implementation guarantee
  • Loan repayment guarantee
  • Stand-by Letter of Credit

In the frames of Bank Guarantees Banca Intesa provides the following types of operations:

  • Issuance of different types of Bank Guarantees to secure the fulfillment of concluded contracts obligations of the Customers;
  • Advising of Bank Guarantees received in favour of the Beneficiaries from Russian and foreign Banks;
  • Issuance of Bank Guarantees secured by counter-guarantees issued by Russian or foreign Banks (subject to the sufficient inter-bank limit).

Key benefits of Bank Guarantees and Stand-By Letters of Credit:

  • The opportunity to get a delay in payment under Contract
  • Your Company credit worthiness improvement
  • Bank Guarantee independence from the underlying obligation
  • Irrevocable nature of Bank Guarantee
  • Use simplicity and wide area to apply Bank Guarantee
  • Opportunity to participate in tenders
  • Taking advantage of Bank Guarantee as one of Trade Finance instruments.

COST OF BANK GUARANTEES* FOR CLIENTS OF BANCA INTESA:

Banca Intesa commissions and charges
Other banks commissions and charges
  • Issuance fee (in case of guarantee issuance under counter-guarantee of Banca Intesa)
  • Other fees as per other bank Tariffs

*Guarantee structure as well as amount of bank charges depend on the terms and conditions of the corresponding concluded agreement on Guarantee issuance and financial standing of the Client.

Documentary collections

Collections means the handling of documents by the Bank in accordance with instructions received in order to:

  • obtain payment and/or acceptance, or
  • deliver documents against payment and/or acceptance, or
  • deliver documents on other terms and conditions.

Why Banca Intesa?

  • Wide network of correspondent banks all over the world
  • Taking advantage of the international largest banking group Intesa Sanpaolo Group:
    competitive rates, wide geographical presence, high service level, Intesa Sanpaolo Group includes 7 793 branches in more than 40 countries all over the world.
  • Stability and reliability of Banca Intesa acknowledged by international audit firm KPMG
  • Wide regional branch network of Banca Intesa from Kaliningrad to Vladivostok.
  • Opportunity to attract the first-class banks funds on the most beneficial terms as well as their optimal utilization flexible schemes development to reduce transaction costs.
  • Individual approach to each Customer. Providing consultancy services on foreign trade contractual payment terms optimization issues for documentary bank operations to be applied.
  • Extensive experience in Trade Finance and Documentary operations
  • Highly qualified team certified in Trade Finance and Documentary operations (certificates of International Chamber of Commerce)

PDF Presentation - Trade Finance and Documentary operations

Rates

PDF Rates for cash and settlement services to corporate customers (legal entities and private entrepreneurs)

Contact details

For getting more information in relation to Trade Finance and/or Documentary operations please feel free to contact our colleagues from Trade Finance department:

 

Yulia Verba
+7 (495) 411-80-70 (ext 3374)
yuliya.verba@bancaintesa.ru
Ekaterina Kostenyuk
+7 (495) 411-80-70 (ext 3415)
ekaterina.kostenyuk@bancaintesa.ru

 

 

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