А letter of credit issued by foreign in favor of the Mongolian exporter.
If you are not willing to bear the credit risk of your foreign business partner you may request the importer to issue you a letter of credit, which ensures that the payment risk is switched to the issuing bank, which assumes an independent promise to pay. If you do not have a direct relationship or knowledge of the issuing bank, XacBank can add its confirmation to the issued LC, meaning that the payment risk is now on XacBank.
Fees and commissions:
| Terms | Fee |
|---|---|
| Advising of the LC | USD 15 |
| Verification of documents and transferring payment | 0.07 % (min. USD 35, max. USD 200) |
| Advising of the amendment to terms and conditions | USD 10 |
| Cancellation of DC | USD 30 |
Suggested
The import L/C is a payment undertaking by XacBank to the foreign importer. XacBank will fulfill its payment obligation when the terms st...
