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Documentary operations

PERFECT FOR INTERNATIONAL TRADE!


To facilitate transactions performed by Moldindconbank clients within the frame of international commerce, the Bank offers services regarding the following guarantee and payment tools:

  • Bank guarantees;
  • Letter of Credit;
  • Documentary collection.

Bank Guarantee

Bank guarantee is one of the most important tool, insuring that the contract liabilities in commercial transactions will be met. Moldindconbank offers the following types of bank guarantees:

  • Bid bond / for goods/;
  • Bid bond /for works/
  • Shipping Guarantee;
  • Performance guarantee;
  • Advance Payment Guarantee;
  • Non payment guarantee;
  • Budgetary Debt payment guarantee;
  • Customs Brokers Guarantee;
  • Guarantee for respecting custom regime on temporary not admitting of goods;
  • Guarantee for respecting custom regime on transit of goods;
  • Guarantee for respecting custom regime on storage of goods;
  • Other types of guarantees.

In case the main Borrower does not respect contract liabilities, the bank shall pay the guaranteed amount to the beneficiary.

Advantages:

  • Eliminates the risk of not respecting the contractual liabilities;
  • Eliminates distrust between business partners, in case they are at the beginning of their collaboration or in case of a long term contract;
  • Reduced costs, compared to bank credits.

At clients` demand, Moldindconbank issues bank guarantees, confirmed by leading foreign banks.


Letter of credit

International transaction, that is a written commitment to pay, by the bank (issuing bank), on behalf of the purchaser, to the seller the value of goods, by presenting goods shipment documents, in strict accordance with terms and conditions stipulated in the letter of credit. Letter of credit is the most complex and efficient modality of payment protection during import/export operations.

Advantages for importer:

Letter of credit insures that the payment will be made only upon presentation of documents confirming shipment of the goods, in accordance with all conditions specified in the Letter of Credit.

At the demand of clients, Moldindconbank issues letters of credit, confirmed by leading international banks, in order to reduce commercial risks, risk of insolvency of issuing bank as well as country risks

Advantages for exporter:

  • Certainty that the payment will be made only upon presentation of the documents, in accordance with all conditions specified in the Letter of Credit..

Documentary collection

Collection, through a bank, of money owned by importer in exchange of shipping documents presented by the exporter. Compared to Letter of credit, documentary collection is simpler, cheaper, but makes no guarantee. It is based on purchaser payment obligation, provided by international commercial contract. The banks involved have no commitment. Bank acts as an intermediary between importer and exporter, hands over shipping documents – at exporter’s order – to the importer in exchange for cash payments.

Documentary collection is a process in which the exporter fulfils his commitments (shipment of goods) before receiving a payment commitment from the importer (without getting insured beforehand that the payment will be done).

This tool can be used only in case:

  • long-term stable business relationship between the parties
  • the seller has no doubts about the buyer's ability to meet its payment obligations,
  • the political and economical situation in the buyer's country is stable.

For more information contact Moldindconbank branches.