Documentary Letters of Credit | Azər Türk Bank | Your State Bank

Documentary Letters of Credit

Letters of credit - generally accepted method of payment for foreign trade operations, which is accepted as more flexible and secure payment form in many countries around the world. The use of documentary letters of credits allows avoiding pre-payment. This form of settlement protects interests of both the seller of goods and services and the buyer as well.

The Bank provides the following services:

  • Opening, confirmation, advice and transfer of letters of credit and other operations on settlements with them (change of terms, document investigation, implementation of payments)
  • Opening of an import letters of credit at client’s own expense
  • Opening of an import letters of credit at the expense of a credit line from the Bank
  • Confirmation of letters of credit by highly rated correspondent banks.

Azer Turk Bank uses the following types of letters of credit:

  • Irrevocable letters of credit
  • Revocable letters of credit
  • Standby letters of credit
  • Revolving letters of credit
  • Confirmed letters of credit
  • Unconfirmed letters of credit
  • Transferrable letters of credit
  • Back to Back letters of credit

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