What operations can be performed from the company's current account?
From the current account you can make: Instant collections in EURO through over 13,000 bank units in EuropePayments and collections in lei by payment orders, notes ...
What is a letter of credit and how does it help me in my relationship with a business partner?
The letter of credit is a payment method commonly used in international trade, through which the buyer's/importer’s bank assumes the commitment ...
What is the difference between payment by letter of credit and payment by external transfer order?
For an external payment order, the buyer directly instructs the payment to the supplier. In the case of a letter of credit, the issuing bank intervenes in the transaction and ...
When will I receive the money if I deliver the goods based on an export letter of credit?
The moment of collection depends on the terms of the letter of credit. Payment can be made immediately after document verification or at a later agreed date. ...
What happens if the documents presented under a letter of credit contain discrepancies?
If the documents do not fully comply with the letter of credit conditions, the issuing bank reviews the discrepancies and requests the buyer's approval for ...
What is documentary collection and when is it recommended?
Documentary collection is a payment method whereby commercial documents are transmitted through banks. Banks act only as ...
What is the difference between documentary collection and letter of credit?
In the case of a letter of credit, the issuing bank undertakes a firm payment commitment. With collection, banks only forward documents and funds, without obligation to ...
In a collection order, can the buyer collect the shipping documents without making the payment?
Depends on the established conditions. Under Documents Against Payment (D/P), documents are released only upon payment. Other collection methods may allow ...
What is a bank guarantee letter and in which situations can it be used?
It is the bank's commitment to pay an amount to the beneficiary if the applicant fails to fulfill their contractual obligations. It is used in tenders, ...
What is the difference between a bank guarantee and a letter of credit?
The letter of guarantee protects the beneficiary against non-fulfillment of an obligation. The letter of credit is used for payment in commercial transactions ...
Can I collect the money before the maturity of an export letter of credit?
Yes. After submitting the proper documents, BT can grant financing before the due date.
What does discounting an export letter of credit mean?
Discounting is the financing of a receivable arising from an export letter of credit, before the payment becomes due.