Documentary settlements

Letters of credit (L/C) guarantee to the seller the payment for the goods supplied, works performed or services rendered on condition that within the term provided in the L/C the seller submits to the bank the documents that correspond all the regulations of L/C.

The person (either individual or juridical entity), who issues the bill of exchange, unconditionally takes the obligation to pay either directly or indirectly (oneself or by charging another entity) the particular amount of money to the person indicated in the bill.

Either financial documents (promissory notes, cheques), or commercial documents (invoices, transportation and other non-financial documents) may be provided to the bank for the collection.