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Bakai Bank is a successful and dynamically developing bank in the Kyrgyz Republic banking marketplace. We aim to provide the widest range of banking services and are always ready to meet the needs of our customers.
Thus, one of the directions to support entrepreneurs in international trade is documentary instruments. The Bank works in this area in accordance with the rules applicable in international practice.
We do not only offer documentary collection operations but what we also do it taking care of our clients. Our service package is individually picked and includes assistance regarding the preparation of documents, analyses of the financial conditions of the transactions and recommendations for minimising risks. Focusing on your needs, we also take into account the specifics of your transaction, optimizing the terms in coordination with your counterparty.
If you are actively involved in export or import of goods and regularly purchase goods from foreign partners or sell your goods to them, we offer you to choose one of the following documentary instruments for settlements:
Letter of Credit
Letter of credit is a special form of payment between buyer and seller, which protects them both. In this case, the Bank, in the role of an intermediary, undertakes to pay the supplier for the goods or services after providing the documents stipulated in the contract.
Settlements by means of the letter of credit:
We open all types of irrevocable letters of credit for the benefit of foreign sellers for our customers importing goods abroad.
We recommend our customers to seek our advice and assistance in drawing up contractual conditions for the letter of credit settlement prior to concluding a foreign trade contract, as this is the basis for a successful transaction.
Advantages for our clients:
A bank guarantee is an agreement by a bank to pay a client's debt to another party to the contract. Payment is made upon submission by the beneficiary of a written request, in some cases, additional documents specified in the bank guarantee.
In our bank you can get all types of bank guarantees, used in the domestic and international banking practice:
Cash collections is an intermediary banking operation to transfer funds from the payer to the recipient through the bank with crediting of these funds to the recipient's account.
Commissions on Documentary Transactions
Presentation "Documentary Collections Transactions and Trade Finance