Export and import payments/trade finance

VTB offers the following products and services:

• Issuing letters of credit, including confirmations by foreign banks (if required), other transactions related to L/Cs (amendments, document verification, payments).
• Reimbursement payments through foreign and Russian correspondent banks on their accounts with VTB in respect of their L/Cs.
• Advising correspondent banks' customers on issuing L/Cs in their favor, in particular, adding VTB confirmation.
• Verification of commercial documents and their submission to a foreign issuing bank for payment; collection of proceeds from foreign banks in favor of VTB correspondent banks' customers.
• Handling assignments of proceeds related to import L/Cs.
• Full spectrum of services related to collection of commercial and financial documents.
• Issue of export guarantees (tender, performance, advance payment or customs guarantees) as well as import guarantees (payment guarantees, promissory note payments, commercial loan repayment, customs duties), other guarantee-related business.
• Time-urgent overdrafts for post-financing of L/Cs issued by VTB correspondent banks.
• Advising guarantees issued by foreign and Russian banks in favor of domestic and foreign beneficiaries; submitting claims for payment on behalf of beneficiaries against bank guarantees; authenticating signatures on guarantees issued by Russian and foreign banks on behalf of the beneficiary.
• Consulting on foreign trade payment terms.
• Tailor-made payment schemes (with lending elements, complex combined settlements comprising a variety of payment forms for one foreign trade contract).