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Corporate services


Documentary Operations

In order to facilitate and secure international transactions of our clients “Moldindconbank” SA offers a full spectrum of documentary operations as letters of credit, collections and guarantees in foreign exchange and local currency.

Documentary credit

It is the most effective means of securing payment in international trade. Documentary credit means any arrangement whereby a bank (the “Issuing Bank”) acting at the request and on the instructions of a customer (the “Applicant”) is to make a payment to or to the order of the “Beneficiary” against stipulated documents, provided that the terms and conditions of the Credit are complied with.

Advantages:
  • Security of parties involved (buyer, seller and issuing bank) as the payment is effected only in case the seller fulfilled all terms and conditions stipulated in the Credit;
  • Continuos adaptability to different changes in international trade;
  • Confidentiality and promptitude of operations secured by documentary credits.
“Moldindconbank” SA offers the clients the possibility to issue documentary credits confirmed by the first grade banks of Europe and United States within the EBRD Trade Facilitation Program.

Also “Moldindconbank” SA was approved by EBRD as a Confirming Bank which enables us to provide EBRD guarantee to export transactions.

Documentary collection

A documentary collection is an operation in which a bank collects payment on behalf the seller by delivering documents to the buyer. Documentary collections are very suitable in cases where the exporter is reluctant to supply the goods to an open account basis but does not need the degree of security provided by a documentary credit. Under documentary collection the importer cannot take possession of the goods without either making payment or accepting a Bill of Exchange. The banks concerned are under no obligation to pay. In its turn the exporter cannot be sure at the time of dispatch of the goods that the buyer will actually pay the sum owed. Therefore this form of settlement is most appropriate if the exporter has no doubt about buyer’s willingness and ability to pay.

Letter of guarantee

It means any guarantee, bond or other payment undertaking by a bank given in writing for the payment of money on presentation in conformity with the terms of the undertaking of a written demand for payment and such other documents as may be specified in the Guarantee. The field of application of guarantees is as follows:
  • International trade transactions
  • Receiving of external grants and loans
  • Participation in international and local tenders
  • Securing of advance payment
  • Proper fulfillment of the obligations under the contract
  • Leasing
  • Customs clearing
In case the party primarily responsible fails to fulfill the obligations the bank guarantor is answerable for the payment of the amount guaranteed.

Corporate services / Currency operations / Documentary operations >


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