VTB Bank offers comprehensive documentary business solutions for counterpart banks:
- Opens letters of credit upon the order of counterpart banks;
- Advises counterpart banks on letters of credit opened in their favour and changes in these letters of credits, with or without additional endorsement from VTB Bank;
- Makes payments under reimbursement authorisation from foreign and Russian correspondent banks on letters of credit opened by these banks;
- Issues reimbursement undertakings upon the request of counterpart banks;
- Endorses letters of credit for counterpart banks;
- Issues guarantees/opens stand-by letters of credit in favour of beneficiaries against counter indemnity from counterpart banks.