Foreign trade finance
Today’s economic and financial environment imposes heightened requirements on the reliability of settlements in international trade and access to competitive financing.
Ipoteka bank OTP Group, in partnership with correspondent banks, offers the most advanced forms of documentary settlements and a wide range of trade finance instruments.
Documentary settlement instruments are internationally recognized as reliable and efficient payment mechanisms that minimize risks for both sellers and buyers. Trade finance enables businesses to access relatively low-cost funding aligned with the turnover cycle of goods and services.
Trade finance refers to the financing of our clients’ foreign trade operations under concluded export and import contracts using various instruments, primarily documentary instruments, including letters of credit.
Ipoteka bank OTP Group provides practical support in monitoring counterparties’ compliance with contractual obligations and offers a full range of foreign currency documentary letter of credit operations.
If you are planning to expand your business by entering into contracts with new suppliers or to broaden your sales geography through new international trade agreements, we recommend utilizing documentary letters of credit.
A letter of credit is a non-cash settlement instrument whereby the issuing bank (and/or confirming bank) undertakes an irrevocable obligation to pay the seller the amount specified in the letter of credit against presentation of documents stipulated therein.
Key Advantages of Letters of Credit:
- Payment is made strictly against documents confirming proper shipment in accordance with agreed timelines, quality, and quantity requirements.
- Sellers receive timely payment upon presentation of compliant shipping documents, without waiting for the actual delivery of goods to the buyer.
- Documents presented under the letter of credit are subject to independent and thorough examination by the bank’s specialists.
- Mitigation of political, economic, and other foreign trade risks.
- In addition to the buyer’s payment obligation, the issuing and/or confirming bank assumes a payment obligation against compliant documents.
Application review period for opening a letter of credit: 3 banking days.
When conducting settlements under export-import transactions, Ipoteka Bank OTP Group, in accordance with the legislation of the Republic of Uzbekistan, performs the functions of a foreign exchange control agent, which include:
- Ensuring compliance of export-import foreign currency transactions with applicable legislation and verifying the availability of required registration or notification certificates, where necessary;
- Verification of the validity and economic justification of payments;
- Ensuring completeness and accuracy of accounting for export-import foreign currency transactions.
Ipoteka bank OTP Group also provides foreign exchange conversion services in accordance with client needs and applicable regulatory requirements.
|
№ |
Name of the Country |
Name of Correspondent Bank |
Currency Name |
SWIFT |
Account No. |
|
1 |
United States of America |
JPMorgan Chase bank |
US Dollar |
CHASUS33 |
0011017803 |
|
2 |
Hungary |
OTP Bank |
Euro |
OTPVHUHB |
HU75117820072122048 500000000 |
|
3 |
Hungary |
OTP Bank |
Swiss Franc |
OTPVHUHB |
HU8511782007712204 8000000000 |
|
4 |
Germany |
Commerz Bank |
US Dollar |
COBADEFF |
400886787100 USD |
|
5 |
Germany |
Commerz Bank |
Euro |
COBADEFF |
400886787100 EUR |
|
6 |
Germany |
Landesbank |
US Dollar |
BELADEBE |
3270002218 |
|
7 |
Germany |
Landesbank |
Euro |
BELADEBE |
6630007512 |
|
8 |
Germany |
Landesbank Baden-Wuerttemberg |
US Dollar |
SOLADESTS |
7482905290 |
|
9 |
Germany |
Landesbank Baden-Wuerttemberg |
Euro |
SOLADESTS |
2809522 |
|
10 |
Austria |
Raiffeisen Bank International AG |
US Dollar |
RZBAATWW |
070-55.082.895 |
|
11 |
Austria |
Raiffeisen Bank International AG |
Euro |
RZBAATWW |
001-55.082.895 |
|
12 |
China |
Agricultural Bank of China |
CNY (Chinese Yuan) |
ABOCCNBJ |
30579701040000014 |
|
13 |
Russia |
Asia-Invest Bank |
Russian Ruble |
ASIJRUMM |
30111810808000000064 |
|
14 |
Russia |
Asia-Invest Bank |
CNY (Chinese Yuan) |
ASIJRUMM |
30111156300000000064 |
|
15 |
Russia |
JSC Raiffeisenbank, Moscow |
Russian Ruble |
RZBMRUMM |
30111810900000000056 |
|
16 |
Uzbekistan |
Central Bank of the Republic of Uzbekistan |
US Dollar |
CBUZUZ22 |
21302840000000937001 |
|
17 |
Uzbekistan |
Central Bank of the Republic of Uzbekistan |
Euro |
CBUZUZ22 |
21312978400000937001 |
|
18 |
Uzbekistan |
National Bank for Foreign Economic Activity of the Republic of Uzbekistan |
US Dollar |
NBFAUZ2X |
0450001092600005 |
|
19 |
Uzbekistan |
National Bank for Foreign Economic Activity of the Republic of Uzbekistan |
Euro |
NBFAUZ2X |
0450001092600014 |
|
20 |
Uzbekistan |
National Bank for Foreign Economic Activity of the Republic of Uzbekistan |
Russian Ruble |
NBFAUZ2X |
0450001092600007 |
|
21 |
Uzbekistan |
JSC Asaka Bank |
US Dollar |
ASBKUZ22 |
21002840800000937001 |
|
22 |
Uzbekistan |
JSCB Uzpromstroybank |
US Dollar |
UJSIUZ22 |
21002840900000937001 |
|
23 |
Uzbekistan |
PJSCB Orient Finans |
US Dollar |
ORFBUZ22 |
21002840500000937001 |