It is a practical and economical foreign trade product with widespread use, allowing goods to be cleared from customs only after the price is paid/collected in import and export transactions. Our bank can process the documentary collections of our customers in both import and export transactions with our expert teams.
It is a form of payment where a forward receivable is tied to a bill of exchange. It is a form of payment that requires the documents representing the goods to be sent by the seller along with a bill of exchange in acceptance credit transactions and the price of the goods to be paid on the specified date. In this trading method, documents representing the goods are delivered to the buyer only after the buyer accepts the policy and/or is given an aval by the buyer's bank. Transactions can be structured as a letter of credit with acceptance credit, acceptance credit against documents, and acceptance credit against goods. This product allows importers to purchase goods on credit. Our bank offers acceptance credit transactions as a product to its credit customers.
Transactions against goods are a foreign trade method in which the exporter loads the goods, sends documents confirming the ownership of the goods directly to the importer, and the price of the goods is paid on a predetermined date. In this method, since the payment will be made after the delivery of the goods, it is the type of transaction that carries the least risk for the importer and the highest risk for the exporter. This payment method is considered as a kind of credit provided by the seller to the buyer since the cost of the goods has not yet been paid at the time of import. In this context, it is preferred especially when there is a trust-based relationship between the exporter and importer. Our bank can process cash against goods transactions of our customers who have accounts.
It is a product that accepts policies created by the exporter and enables the importer to clear the goods from customs with deferred payment. In this process, banks must add/accept the policy to the policy created by the sellers. Our bank offers aval/acceptance credit transactions as a product to its credit customers.
Letter of credit (LC) is a foreign trade method in which payment is guaranteed by the bank after the goods are shipped from the export country, provided that the conditions determined between the buyer and the seller (goods type, quantity, delivery time, payment method, etc.) are complied with. It is a payment method that provides a high level of security for both buyers and sellers. From the buyer's perspective, letters of credit (LCs) provide a letter of credit guarantee that ensures payment is made only for goods that comply with the contract terms, are shipped on time, and meet the credit requirements. From the seller's perspective, LC offer a secure collection method as payment is guaranteed by the bank only if the terms of the LC are fulfilled. Our bank offers letter of credit to its credit customers.