Documentary operations
Secure your business and contracted products or services!
API Bank a.d. Beograd offers a range of quality products in the documentary business to importers buyers exporters and sellers of goods. These products serve to protect customers and sellers, reduce risk in goods collection, and provide additional security in quality when procuring goods.
Letter of Credit Transactions
API Bank a.d. Beograd opens all types of irrevocable letters of credit known in international practice to protect the interests of both buyers and sellers.
Being the most significant and safest way of payments, the letter of credit provides security for sellers and buyers working under a contract:
- Buyers are guaranteed to get the goods they have contracted without the risk of paying in advance for something that they have not even seen.
- Sellers are guaranteed to securely charge for the delivered goods if they follow the instructions and terms of the letter of credit.
By issuing letters of credit, the Bank shall, upon the request 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.
Documents required to open a Letter of Credit:
- Document proving 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 transfer of the given transaction.
The documentation can be filled out electronically, without the need to fill it by hand:
- Download the required 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.