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Letters Of Credit

 

​Your foreign trade operations are under guarantee of Ziraat Participation throught the payment against letter of credit!

The letter of credit is a conditional bank guarantee which commits that the goods or services are given to the exporter against the submission of a document through which it is stipulated that the goods are loaded or the services are fulfilled or against a certain amount and maturity.

Purpose

Bringing the payment risks to an acceptable level for the exporter and importer by making a payment commitment against the appropriate document of the issuing bank and if any confirming bank.

Who can benefit from this product?

All our customers, exporting and importing can benefit.

Maturity

The maturity is freely determined between importer and exporter.

Product Features

  • The Seller and Buyer obtain the financing opportunity.
  • It protects both the exporter and the importer. While the exporter will collect the cost of goods if it dispatches the goods in accordance with the conditions of the letter of credit, the importer knows that it will not make payment before submitting the document which demonstrates that the shipment is made and the goods is sent in accordance with the conditions of the letter of credit to the exporting bank.
  • Both parties have the payment guarantee of a bank (they have a second bank’s guarantee in the confirmed letter of credit). 
  • The commercial risks for the buyer and seller and also the political risk in the buyer’s country decreases to the lowest level.
  • The parties find new market opportunities.

What are the required documents?

You can make your application with the standard documents requested during the trade finance application. 

How can I apply?

You can make your application to the closest branch of Ziraat Participation Bank.