AccessBank is one of the experienced banks of Azerbaijan acting in the sector of servicing the foreign commercial operations and documentary operational services. It continuously develops the relations with the advanced banks of the countries deemed as the principal partners of Azerbaijan in the foreign trade sector within the frames of the “Trade Facilitation Programme” of the European Bank of Reconstruction & Development and the “Trade Finance Facilitation Programme” of the Asian Development Bank.
AccessBank offers the following types of documentary operations:
- Letters of Credit;
- Banking guarantees.
Letter of Credit (L/C) - is a generally accepted method of obligation upon foreign commercial operations as well as a form of more rapid and safe accounting applied in many countries of the world. Usage of documentary L/C removes necessity of prepayment. This accounting form highly protects the interests both of the seller and the buyer of goods and sercives. p>
Opportunities for importing (purchasing) party:
- It guarantees payment only after fulfillment of all seller’s obligations according to the terms of agreement;
- It creates opportunity for gaining repite from payment for goods and services without using liquid assets;
- It ensures opportune delivery of the goods referring to the temporal limits of the opened letter of credit;
- It ensures overall checking of all documents.
Opportunities for exporting (selling) party:
- It removes the risks connected to seller’s avoidance from payment or the buyer’s bankruptcy – in case of provision of the appropriate documents upon the letter of credit to the bank you ensure recent payment by the bank
AccessBank offers the following types of L/C:
- Direct letter of credit;
- Confirmed letter of credit;
- Stand-By letter of credit
Banking guarantees - is a form of fulfillment of one partner’s obligations before the other one basing upon the agreement concluded between two business partners. The bank hereby undertakes obligation of payment of the amount stipulated in the guarantee in case of provision of written requirement in compliance with the guarantee terms. The guarantee is not deemed as payment tool and guarantee payment gets implemented in case of failure of the customer’s obligations. Using the banking guarantee the payment gets implemented not prematurely but partially upon delivery.
AccessBank offers the following types of guarantee
- Tender Guarantee or Bid bond;
- Performance Guarantee;
- Advanse Payment Guarantee;
- Payment guarantee;