en
Exchange Rates*
USD
sale 39.50
purchase 39.99
EUR
sale 42.40
purchase 43.00
GBP
48.00
49.90
PLN
9.400
9.900

*currency exchange only in cash

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

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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

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).

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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