In order to make real the international accounts in the easiest and safe way Parabank offers its customers the following benefits / services:
- letter of credit - both manat and any other currency (in case of need with the ones testified or no testified by the first rate international banks);
- bank guaranty;
- collection of payment documents;
- reference to the bank responsibility and the customer instruction it's the arranged responsibility to ensure the payment of the sum to the beneficiary against the mentioned documents and positions in the letter of credit;
- both of the contract sides are ensured from the letter of credit obligation cancel in comparison with the pre payment and conveyance (except the cases when a definition of the false documents hasn't been detected). In other words, if you present to our bank the documents describing the goods' quality and its other characteristics, the transportation charges, customs clearance and other documents testifying the departure of the goods you as a partner (the one who sells) sign the contract on the carrying out the payment mentioned in the letter of credit. The goods' transportation, carrying, insurance terms are agreed and described in details in the letter of credit and by it protects any problem which can be raised.
- The risk of the goods nondelivery;
- The delivery of the goods of bad quality;
- Insurance risk.
Parabank being an active bank develops and strengthens the correspondent relationships with the great foreign credit organizations which gives this bank an opportunity to offer the partners any documentary operations (such as collection of payments, letter of credit, bank guarantee) cooperation. The bank letters of credit are confirmed by the well known financial institutions. The back up line offered by the foreign banks give Parabank the opportunity to suggest the customers the foreign economical financial operation services on advantageous terms. Parabank suggests the below mentioned services to its customers:
- Export letters of credit;
- Import letters of credit proved and unproved by the first class banks (overt and then financed);
- Parabank establishes the letters of credit for its customers within Azerbaijan both in manats and other currency;
Bank guarantee
It's natural that every organization which has the negotiations on the signed contract wants to be sure in the other side's responsibility execution. Bank guarantee is the very means which ensures the responsibility execution. Bank guarantee provides you with the possibility not to make pre payment, it gives the opportunity of delayed payment. Side by side with it reference to the instructions of our bank it's possible to have the guarantee of the first class banks. Parabank offers to its customers the following guarantees:
- Payment guarantee (proved or unproved by the first class banks);
- Advance money guarantee;
- Contract execution guarantee;
- Tender guarantee;
- Other guarantee kinds;
- The accomplishment of the operations connected with the guarantee process (guarantee's being aviso (advice), payment demands)
Collection of payments operations
In documentary collection of payments the bank in accordance with its customer's (vendor) instruction sends all the documents to the banks of the vendee the documents of the delivery terms with all collection of payments assigns. From the point of view of the vendee the documentary collection of payments is considered the absolute version as all the risks in this case are on the vendor. Exactly the vendor without having the guarantee for the payment must send the goods.
Parabank accomplishes the given terms in the following cases:
- If there is a confidence between the vendor (exporter) and vendee (importer);
- If there's no any doubt in vendee's payment execute resources and wish;
- If the political, economical and juridical conditions' stability of the countries which have the commerce is distinguished.
