Anasayfa İletişim
Foreign Banking
 
Foreign Banking
Foreign Banking
 
 

Letter of Credit:

Fastest and safest letter of credit services for import and export operations are possible with Limassol Turkish Cooperative Bank. Letter of Credit is a guarantee in written that the bank will make the payment to the seller based on the request and instruction of the buyer, until a specific amount and within a specific term against relevant documents and if the specified criteria are met and that it will accept or make the redemption of the policies drawn by the beneficiary. For the payment with a letter of credit seller has a guarantee that Bank will do the payment of cost to him/her. Since the letter of credit will be prepared according to the buyer’s own requests and instructions, he is sure that if necessary conditions are not met, payment will not be done to the seller. Letter of Credit practices which protects both seller and buyer at the international trade, in our bank this operation is based on Uniform Methods and Implementations on Letter of Credits Brochure numbered 600 issued by the International Chamber of Commerce  and it gives payment guarantee to the exporter for your import operations by carrying out the operation with an experience personnel in compliance to the internal rules of our country and assist you as a responsible Bank for your export operations.


Required conditions:

To be able to use the product of letter of credit, first you need to have a credit limit or a deposit.


Letter of Guarantee:

Limassol Turkish Cooperative Bank gives you the fastest and best quality service for your letter of guarantee operations in Turkish Liras or Foreign Currencies which you need to provide institutions and organizations within the country.



External Guarantees:

You can guarantee the agreements you carry out  with the persons or companies in abroad with the letter of guarantees taken against the counter guarantee letters that we give to correspondents in abroad.



Acceptance Credit:

For document operations, the seller may not trust to the buyer enough against the risk of not paying the policy accepted by the buyer, so may ask the payment to be guaranteed by a bank. Aval means a commercial guarantee provided by a bank for a policy accepted by the buyer. With the endorsement guarantee to be taken by our bank, prior to any payment, you will have a chance to receive your goods before the term.



Intelligence on Firms in abroad:

It is a information report related to any firm and institution located in abroad, and their commercial, financial, legal structures, including formal information especially measuring the credit ratings of relevant firm and institution.

 

Click here to Download letter of proposal for Opening a Letters of Credit