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Улаанбаатар Хотын Банк

Import letter of credit

Ulaanbaatar city bank is offering Import Letter of credit for importers to purchase the goods and defer the payment until the products received. The bank will issue a guarantee for your payment and this will reduce the risk of non-performance by supplier therefore can improve the relationship between importer and the supplier.

The process of Import Letter of Credit:

Letter of credit advantages for importers:

  • Discounted prices for products importing
  • With valid letter of credit documents, protecting the importer from risks of transporting the products and fulfillment of the contract
  • Using loan funding from bank to issue letter of credit

Different payment types:

  • Credit available by sight
  • Credit available by deferred payment
  • Credit available by draft
  • Credit available by negotiation

Import letter of credit
Issuing a documentary credit 0.2% /min USD 150, max USD 350/
Document discrepancy USD 50
Increasing LC amount ( from the increased amount) 0.2% /min USD 50, max USD 150/
Amendment to terms and conditions USD 50
Cancellation of LC USD 50
Per each discrepant document package USD 50
Uncovered LC risk fee According to contract

Ulaanbaatar City Bank, in accordance with international UCP 600 standards, provides letter of credit with recourse or non-recourse to our customers.
Please contact Customer Information center for more information:
Telephone: 1800-1800

2019-06-12

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