Letter of Credit in yuan for trading with Asia region

 

Opening the letters of credit in Chinese yuan

Letter of Credit in yuan for trading with Asia region

Following the tendency of outstanding banks, our partners are ready to offer new service - issue of letters of credit in the Chinese yuan (CNY).

At the request of a large corporate client, a comprehensive banking operation was done, in the process of which several letters of credit were issued in the Chinese currency. Under today\'s market conditions post-import payments in CNY play an important role, since implementation of transactions in CNY contributes to effective cooperation with Chinese importers, and not only meets the current needs in mutual trade. Moreover, on the background of unstable courses, such transactions help to avoid currency risks.

Documentary Letter of Credit (MT 760) is the bank\'s obligation to pay a specific amount to the party supplying goods or services, after confirmation of timely shipment of goods or provision of services. In international trade, this financial product is the safest and the most effective means of trade transactions financing, since it eliminates most of the risk both from importers and exporters. Strengthening cooperation with financial institutions in Asia and the Middle East, the company Profinvest Services uses the opportunities for successful trade transactions of our clients.

Observing the growing interest of clients to transactions in national currencies, we offer the following financial instruments in CNY:

- Documentary Letter of Credit (MT 700)

- Stand-by Letter of Credit (MT 760)

- Bank guarantee (MT 760)

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