Exchange Rates*
USD
sale 44.00
purchase 44.60
EUR
sale 50.80
purchase 51.50
GBP
58.20
59.60
PLN
11.750
12.050

*currency exchange only in cash
*exchange rates may be different
in individual branches of the Bank

Commercial rate (for debiting transactions in a currency, which differs from account currency)

*currency rates may differ in individual branches of the Bank
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Letters of credit

Letters of credit

A letter of credit is an irrevocable undertaking of a bank acting by order of an applicant (buyer) to pay a certain amount to a beneficiary (seller) against compliant presentation of documents under the letter of credit.

The documents presented must comply with the terms and conditions of the letter of credit, the provisions of the rules governing the letter of credit (most often - the latest revision of UCP) and an international standard banking practice for working with letters of credit.

Letters of credit

When a letter of credit is used

  • check

    Seller

    doubts the reliability and solvency of a buyer

  • check

    Buyer

    doubts a seller's ability to meet delivery obligations

  • check

    Restrictions or unstable conditions

    are available (currency, economic, political) in a buyer's country

  • check

    Legislation

    provides for a mandatory usage of letters of credit

Scheme

Services under letters of credit

For buyers/importers
For sellers/exporters
Issuance of letters of credit
FUIB works under letters of credit both for foreign economic transactions and under agreements between residents of Ukraine. FUIB specialists will provide you with advice for ensuring the maximum protection of your interests and help you with the preparation and agreement of a contract draft containing a letter of credit as a payment method.
Issuance of confirmed letters of credit
A significant number of partner banks and our positive history of cooperation provides possibilities to confirm import letters of credit within FUIB lines at foreign financial institutions.
Issuance of standby letters of credit
A standby letter of credit serves as a guarantee and is used instead of it in some cases.
Trade finance
Trade finance services will allow to pay for imported goods/services/works either at the expense of FUIB funds, or through post-import financing within FUIB lines at foreign banks, or through long-term financing with the participation of export credit agencies (ECAs).
Advising of letters of credit
Advising is a procedure of transmitting of an official message about the opening of a letter of credit or changes to it in favor of a seller. It is enough to indicate the details of FUIB account at the sales contract for further letter of credit advising through FUIB.
Confirmation of letters of credit
Confirmation of the received letter of credit is used in case of a low level of confidence of a seller with regard to an issuing bank or in case of a high level of risk of a buyer’s country/country of an issuing bank. When adding its confirmation to a letter of credit, FUIB must check documents presented under a letter of credit and effect payment subject to compliance presentation.
Post-export financing
(discounting of documents under a letter of credit)
This service provides for receipt of funds upon shipment of goods/performance of work, without waiting for payment from an issuing bank. The procedure for obtaining funds is simplified: without setting a limit for an exporter, without providing collateral from an exporter, provided that the conditions of a letter of credit and credit risks of an issuing bank are acceptable for FUIB.
Scheme

Benefits of using letters of credit

For a buyer

For a buyer

  • avoidance of payment in advance
  • costs savings compared to traditional lending
  • payment effecting after the goods shipment or the occurrence of the agreed events
  • control of the terms and the fact of contract fulfillment, including the timeliness of goods shipment
  • possibility of deferred payment or post-import financing
For a seller

For a seller

  • receipt of an irrevocable undertaking from a bank
  • elimination of a buyer’s insolvency risk
  • minimization of the risk of a buyer's refusal from the delivered goods
  • expanding of opportunities to enter new markets
  • possibility to receive financing from a bank
For all parties

For all parties

  • protection by international rules that establish rights and obligations

FUIB is a reliable partner

  • TOP-5 banks

    by the volume of documentary operations

  • 65+ of 100

    the largest companies of Ukraine cooperate with us

  • 30 years

    in documentary business

  • 400+
    partner banks

    from more than 85 countries throughout the world

  • Trade finance limits

    with the world's leading banks

Learn more
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