Login to Internet Banking
Rigensis Bank AS offers a wide range of products and services for international settlements using documentary operations:
- settlement of international payments by means of:
- documentary letters of credit;
- documentary collection;
- provision of all types of guarantees, including standby letters of credit as well as
- preparation of guarantee texts with maximum protection of customer interests;
- advising on a guarantee issued by other banks in favour of customers;
- provision of a full range of services for import and export letters of credit;
- provision of full range of services for import and export collections;
- personal consultations regarding optimization of international settlements:
- assistance in organizing settlement of payments, taking into consideration the specific requirements of the partner country;
- assistance in the elaboration of payment terms and conditions to be included in contracts and agreements.
Advantages of using documentary collection:
- relatively low-cost of the product, comparing to letters of credit;
- ease and simplicity of use of the product, comparing to letters of credit;
- using documentary collection significantly reduces risk of non-payment for goods or services provided.
Advantages of an import letter of credit:
- using of letter of credit as a payment method eliminates the risk of non-delivery of the goods;
- using of letter of credit as a payment method warrants receipt of the goods of agreed quality and quantity and the delivery within a particular timeframe, as specified in the letter of credit;
- execution of payments only after examination of all necessary documents, proving that all conditions of the letter of credit have been met by the seller.
Advantages of an export letter of credit:
- using of letter of credit as a payment method warrants receipt of the payment against presentation of the documents, that fully comply with terms and conditions of the letter of credit, including when doing business with new partners;
- using of letter of credit as a payment method reduces the risk of cancel or amendment of the order by the byer;
- letter of credit provides assurance to the exporter that the buyer may not refuse to pay, claiming any defects of the goods received.