Secure your business and charge of your contracted products and services!
API Bank a.d. Belgrade offers a range of quality products in the field of documentary business, available to importers, or buyers, as well as exporters and sellers of goods. Their basic role is to protect customers and sellers, reduce risk in the collection of goods, as well as additional security in quality when procuring goods.
Letter of Credit Transactions
API Bank a.d. Belgrade opens all types of irrevocable letters of credit known in international practice, protecting with their issuance the interests of both the buyer and the seller.
As the most significant and safest way of payment and collateral, the letter of credit provides both to the seller and the customer security during the realization of the contracted work:
- The buyer is sure to get the goods he has contracted, without the risk of paying in advance for something that he has not even seen.
- The seller is sure that he will securely charge the delivered goods if he has followed the instructions and terms of the letter of credit.
By issuing letters of credit, the Issuer shall, upon the order of its client, take over the irrevocable obligation to pay the presented documents on behalf of the beneficiaries on the agreed date, if the exported documents have been submitted in accordance with the foreseen conditions set forth in the text of the Letter of Credit.
Documentation required to open a Letter of Credit:
- Document showing the existence of a legal transaction with a foreign partner (contract, pro-forma invoice, offer …)
In case of covered letters of credit, as in the case of the so-called uncovered letters of credit, the client may contact the Business Economy Department to approve the credit limit in order to support the realization of the given transaction.
The documentation can be filled electronically, without the need to fill it by hand:
- Download the necessary documentation and save it to your computer.
- Fill in the data and save the filled document.
- You may then print the saved document, or send it electronically.
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The guarantee is a security instrument, whereby the issuing bank takes over at the client’s order, the irrevocable obligation to pay at the first call the determined amount to the beneficiary as compensation for unperformed payment or performance by its client in whose name the bank is performing. If you sell, perform services, take part in the tender, perform works, buy with advance payment, design, install new equipment, API Bank a.d. Beograd can offer you the following types of guarantees:
Foreign exchange and dinar performance guarantees:
- guarantee for participation in bids
- guarantee for good performance
- guarantee for advanced payment refund
- guarantee for the quality of executed works within the warranty period
- guarantee for the proper settlement of other monetary liabilities from operations
- guarantee for the repayment of loans and interest