Short-Term Import Financing

Short-Term Financing of Import Operations (Documentary Operations) Foreign Trade Transactions (from 30 to 360 days)

Along with usual lending the Bank offers its clients financing of import deliveries of goods and equipment by issuing documentary letters of credit or guarantees of first-class banks. To cut down the cost of financing of foreign trade operations the clients of Absolut Bank use for their settlements various kinds of documentary letters of credit (with deferment of payment, sight letters of credit, with post-financing) as well as bank guarantees of first-class western banks both for export operation (tender guarantees, performance bond guarantees, guarantees for repayment of the advance) and for import operations (guarantees of payment and guarantees of repayment of commercial credit).

Advantages of short-term financing at Absolut Bank:

• low cost of financing;
• choice of the optimum form of settlements under the contract;
• no risky prepayment;
• possibility to receive payment deferment for up to 2 years;
• minimization of the risk of non-delivery of goods or delivery of goods of inferior quality;
• minimization of the risk of non-payment for the seller;
• extensive and successful experience of Absolut Bank in the field of foreign trade operations;
• partnership relations of Absolut Bank with the leading world financial institutions;
• flexible and individual approach to each client;
• maximum period from receipt of a loan application to the making of final decision not exceeding 2 weeks.

Main terms and conditions of financing:

• Import of goods or services;
• Amount of financing: from Euro/USD 50,000.0 to Euro/USD 1.5 million;
• Cost of financing: from 8% p.a.;
• Financing period: from 3 months to 2 years.

What is to be done to receive financing:

• agree the terms and conditions of transactions with the International Business Department at (495) 777-71-65;
• complete the "Borrower’s Questionnaire";
• submit information for the loan analysis in accordance with the "Minimum List of Documents Required for Consideration of a Client’s Application";
• complete as required:
  
  • "Letter of Credit Application/Application for Amendment of Terms and Conditions"
  • "Payment Guarantee Form"

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