Purpose:
- A method of non-cash settlements, in which the Bank undertakes a monetary obligation to make a payment in favor of the recipient of funds (beneficiary) after he provides documents confirming the fulfillment of the conditions of the letter of credit. Ensuring the protection of the interests of the parties in non-cash settlements both in the local market and for settlements on foreign trade contracts.
Types of letters of credit:
- Letters of credit for settlements in the Republic of Azerbaijan
- Letters of credit for foreign trade
Security:
- commercial and residential real estate,
- movable property (inventory, equipment, etc.),
- deposit in the Bank of individuals, legal entities and individual entrepreneurs.
