Documentary letters of credit
Documentary credit represents one of the most significant instruments of international payment in foreign trade business that enables more secure exchange of goods and protects interests of vendor and buyer.
The buyer is ensured that the purchased good is received on time and that it is of satisfactory quality
The vendor is ensured that the delivered goods and services will be paid for
Types of letters of credit that OTP Bank offers to its clients
- import / export
- negotiable / non negotiable
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Documentary collection – incasso
Documentary collection is a payment instrument used in import-export businesses. Compared to the documentary credit, documentary collection includes prior delivery or rendering of services by the vendor before execution of payment.Find out more
OTP Bank issues and advises guarantees as instruments of collateral. At the request of guarantee user the Bank undertakes to make payments up to the amount specified in the warranty, in the case of non-payment or default of contractual obligations by the instructing party under the guarantee.Find out more
Our documentary operations and guarantees experts have significant experience in international trade and are always ready to offer you a piece of adviceFind out more