Serebrenik — is the name of the first Russian silver coin minted in Kiev for X-XI centuries at princes Vladimir Svyatoslavich, Svyatopolk Yaropolchich.
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Documentary operations
Letter of Credit in rubles in Russian Federation
In Russian Federation individuals effect payments under Letter of Credit in rubles in accordance with the Provision of the Central Bank of the Russian Federation ¹ 222-P «Provision on Non-Cash Transactions effected by the individuals in the Russian Federation».
Russian International Bank offers full service packages to individuals regarding settlements under Letter of Credit in rubles in Russian Federation:
- advising and issue of Letter of Credit;
- documents check up;
- execution of Letter of Credit;
- confirmation of Letter of Credit by Russian International Bank;
- financing of opening Letter of Credit on non-covered basis within fixed limit.
Individuals can use Letter of Credit to effect non-cash payments in accordance with legislation of the Russian Federation, when applying payments inconsistent with entrepreneurial business.
Using Letter of Credit you can carry out settlements under the contract with individuals, legal entities and self-employed entrepreneurs.
Using Letter of Credit you can pay for the goods, works and services. This form of payment is also convenient in transactions with real-estate property and securities.
Letter of Credit opens for settlement under the contract between the Buyer and the Seller and represents Bank’s obligations to effect payment against documents fully complying with Letter of Credit terms and conditions.
Russian International Bank opens the following types of Letter of Credit in rubles:
- covered (deposited) and non covered (guaranteed)
- revocable and irrevocable.
The Main advantage of a Letter of Credit is the fact that Russian International Bank, but not a Bayer, acts as a guarantor of payment.
Letter of Credit will allow you:
- to withdraw advance payments;
- to minimize risk of non receipt of the goods, works and services;
- to guarantee payment timely
- to extend range of your contracting parties considerably.
Requirements to the client to open a Letter of Credit in rubles:
1. Settlements under a Letter of Credit shall be provided in a purchase-and-sale contract. Russian International Bank shall be stated as a bank-participant.
2. A client shall provide the Documentary Business Department with “Application to open a documentary Credit” in 3 originals..
3. A client’s balance in Russian International Bank shall cover amount of commission under Letter of Credit.
4. payer shall provide the Bank with a pledge thereof the following are considered:
• cash cover;
• securities;
• commodity and material valuables;
• real estate
• deposits of legal entities;
• guarantees of legal entities.
Commission to conduct transactions with a Letter of Credit is charged in accordance with applicable rates of the Bank for legal entities (cl. 4.1).
Consultancy servicesat all stages of transaction including preliminary discussion of payment conditions of the contract can be done in the Documentary Transaction Department by phone.Contacts
+7(495) 782-0366• Marina Bulatova, Head Documentary Business Department - ext.: 384
• Elena Kolesnikova, Head Financial Institutions & International Projects Division - ext.: 381
