Export Letter of Credit
- Payment is guaranteed upon Beneficiary’s presentation of complying documents
- Timeframe compliant with the agreed contractual terms
- In case of a confirmed L/C the customer (Beneficiary under a Letter of Credit) has double assurance for payment – that of the Issuing bank and the one of UniCredit Bulbank AD acting as Confirming bank
Whom is it Suitable for?
Suppliers/Exporters of goods and/or services abroad or in the country
Exporters trading with new clients, operating at unknown markets or markets with high risk profile
Frequently Asked Questions
Regardless of the creditworthiness of the importer, upon presentation of complying documents payment will be executed.
Is it possible to amend or revoke an export Letter of credit without prior consent of the Beneficiary?
The confirmed letter of credit contains double insurance for the payment - of the issuing bank and of UniCredit Bulbank as a confirming bank.
Is it possible to use the export Letter of credit as a payment instrument when the goods that are exported / sold are supplied by a third party?
Yes, when the export Letter of credit is received as transferable, UniCredit Bulbank may be asked for its transfer in favor of the final supplier as second Beneficiary.
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Bulbank Online Trade Finance Module
Trade Finance module as a part of Bulbank Online is a new functionality for accepting corporate clients’ orders and processing trade finance deals.
The new platform has been developed to ease and speed up the communication, processing and access to real-time information regarding bank guarantees, Letters of credit and Documentary collections by using the advantages of the online tool.