Letter of credit

Bridge connecting trade worlds
Such letter of credit equally protect both sides, importer- buyer and exporter- seller,
A buyer shall know that he/she will collect the payment for the services and goods that are contractually agreed
A  seller shall know that a buyer will receive goods and services that are contractually agreed ,

A documentary letter of credit is one of the most secure payment instruments in the international trade

With the letter of credit the Bank, acting upon the letter of request by its Client (Principal), commits to pay, either the Bank itself or via its corresponding bank, an agreed amount in favor of a Beneficiary of the letter of credit after such Beneficiary presents the documents on completion of the contractual obligation.

The Bank issues the documentary letters of credit for the legal persons, both resident and nonresident.


Quality assurance, the foundation of trust

If you trade, provide services, participate in a tender, carry out works, make purchases with an advanced payment, design, set up new equipment, we recommend to secure yourself with the guarantees!

The guarantee is a security instrument by which upon its client order a bank that is an issuer of guarantee and acting on behalf of its client, undertakes the irrevocable obligatinon to make a payment on first demand in favor of a beneficiary of the guarantee as a indemnity for its client failure to perform a payment or provide a service.

We offer you several types of the banking guarantees.

Tender guarantee

The tender guarantee a type of bank guarantee that up to the guaranteed amount covers losses, which   Beneficiary of the bank guaranty (purchaser) incurs in the event that the participant in the tender providing the offer accepted as the most favorable does not conclude a contract requested by such tender or does not provide a performance bond. The participant in the tender is the Principal of the guarantee (a Bank’s client).

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Customs guarantee

A customs guarantee is a type of bank guarantee by which the bank provides the guarantees to the Customs Authority of Montenegro for the regular settlement of liabilities arising from the excise tax, taxes, customs debt and other liabilities of its Client, depending on the customs process. Such guarantees may be additionally used as the security of payment for other business operations (warehousing of goods, transit of goods). A customs guarantee can be issued in a form of a joint or individual customs guarantees. The joint customs guarantee refers to the total value of the goods for a given period, whereas individual can be used only for one specific import of goods.

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Advance payment guarantee

An advanced payment guarantee is a bank guarantee by which the Bank shall transfer defined amount of money ( the advance payment made) in favor of a Beneficiary of such guarantee in the event that his/her Debtor (a provider of goods/services/works) fails to fulfill the contractually agreed obligation that has been paid in advance. In this case, the Debtor is the Principal of the guarantee – a Client of the Bank.

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Payable guarantee

A payable guarantee is such type of guarantee by which the Bank shall make the payment of defined amount of money on first demand to a Beneficiary if the Principal of such guarantee- a client of the Bank fails to pay for the goods delivered within a payment period stipulated. This guarantee validity period corresponds with the period defined for the payment of goods in the respective contract.

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Performance bond guarantee

A performance bond is a type of bank guarantee, by which the Bank shall make the payment of a guaranteed amount in favor of a Beneficiary of such guarantee, if a Bank’s client (service provider, trader) fails to fulfill his contractual obligations.

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Collection services

Partnership where security and responsibility play a crucial role
Quick and efficient tracking and payment of completed import/export transactions
Synchronization in payment and document receipt
Recommended for long-term business partners

Encashment (documentary collection of payment) operations include buying the documents by the users that are presented  by the banks, and by this it is facilitated the fast and efficient monitoring and payment of the import/export of goods that has been already carried out, wile in parallel receiving all necessary documents for further handling the goods.

This instrument is recommended for the transactions concluded between the long-lasting partners. The bank, as the mediator, provides the synchronization in payment and in receiving the documents.