The Bank offers also services in maintenance of documentary operations.
Main types of documentary operations in the international bank practice are:
The bank serves all types of letters of credit, including transference and reserve. On demand of the Customer the Bank opens letters of credit, moreover, if necessary, the Bank can arrange confirmation by the Correspondent Bank of letters of credit opened by the Bank. The Bank also advices and serves the letters of credit opened by other banks in favour of customers of the Bank or customers of the correspondent banks. On demand of the Customer the letter of appropriation can be provided and appropriation of means according to the letter of credit may be carried out.
The bank serves operations of the documentary encashment as admitting documents for encashment from their Customers in order to send them for payment to bank of the purchaser / payer (export encashment), as well as when receiving documents from other banks and representing them for payment to their customers (import collection).
Bank guarantees are the instrument of security and are subdivided into types depending on the obligations secured by the guarantees. The bank issues all types of bank guarantees, besides, if necessary, the Bank can organize issue by the correspondent bank of a counter-guarantee under the Bank guarantee. The Bank also advices and serves the guarantees which have been issued by other banks in favour of customers of the Bank or customers of correspondent banks.
Documentary operations are widely used in international trade. This is a reliable and convenient way to significantly minimize risks inevitably faced by participants of commercial transaction, thus most fully considering interests of all parties involved in the transaction.
The above-stated tools are rather flexible, and, depending on requirements of the Customer, Meridian Trade Bank will help to select the most optimum option, thereby, having minimized potential risks and possible expenses.
More detailed information can be received in Department of Investments and Crediting:
Ph.: +371 67019181
57 Elizabetes Str., Riga, LV-1772, Latvia
Ph.: +371 67019393