International settlements
One of the main priorities in the development of the Bank is an increase of its activities in international settlements field.
FORUM Bank has a stable reputation in the interbank market as well as in the international market. Wide network of correspondent banks all over the world allows bank to execute all kinds of international payments and settlements in a most timely and high quality manner.
FORUM Bank has been constantly widening and developing its range of trade finance instruments, e.g.:
- Issuance of uncovered letters of credit and provision of guarantees without cash cover
- Pre and post import financing
- Pre and post export financing
- Providing services under documentary operations to correspondent banks in the context of their credit lines
The financial stability and transparency of FORUM contributes to formation of its reputation in the international financial market as a reliable counterparty with a strong track record.
In addition to a bank loan, there are many types of financing:
Financing of foreign trade using documentary instruments
Using credit lines of foreign financial institutions, the Bank offers programmes of foreign trade financing with documentary instruments – various letters of credit and guarantees. Highly qualified personnel of Trade Finance Department will assist you in structuring a deal and compiling a corresponding contract clause stipulating a type of settlement such as a letter of credit or a guarantee.
Import Financing
FORUM Bank offers financing (deferred payment) of imported goods for a term of up to 720 days. We structure deals and design individual and tailor-made impot finance products.
Advantages for Importer
- additional benefit due to comparatively low expenses on uncovered LCs/Guarantees
- no need in pre-payment mitigating the risks of non-fulfilment by the seller
Import financing is a way to ensure the liabilities on purchase of goods/services which production term is over 90 days.
Deferred payment financing
Opening of a deferred payment LC/guarantee in favour of a seller guarantees the obligation of an importer to pay for goods after a definite period of time after shipment of provision or services.
The buyer has a possibility to pay to its counterparty when he anticipates to have available funds, while a seller obtains the guarantee of payment in due time.
Advantages for the client (importer)
comparatively low expenses for the issue of uncovered LCs/Guarantees
- no need in pre-payment mitigating the risks of non-fulfilment by the seller
- a way to ensure the liabilities on purchase of goods/services whose production term is over 90 days
- a possibility to obtain a commodity credit on more beneficial conditions (on the basis of international financial market rates)
- a possibility to obtains a deferred payment date with a fixed period from an agreed event (date of shipment, date of documents presentation, etc.) and
- a possibility for an intermediary to pay for goods/services after sale
Services for correspondent banks
Bank offers a range of services for correspondent banks in the sphere of documentary business: documentary letters of credit, bank guarantees and trade finance.
A significant number of documentary credit lines opened by first-class international banks allows Bank to attract rates on financing equal to European market ones.
Bank implies in its work instruments with world wide recognition due to its reliability, convenience and ability to decrease financial and commercial risks in export/import operations.
Documentary business and trade finance services:
- Export and import documentary letters of credit
- Bank guarantees and reserve letters of credit
- Export/import trade finance
- Consultations and recommendations on all types of operations
Utilization of documentary letters of credit in trade finance operations shall help our banks-partners to:
- Significantly increase the number of transactions and the geography of the external economic activities and also gain extra incomes
- Decrease credit risks related to prepayments or goods supplies, insurance and legal risks for its clients;
- Optimize cost of trade finance activities
Contacts:
Yaroslav Verbovsky
Tel.: +38 044 205 35 93
Project and Trade Finance
verbovsky@forum.com.ua
Andrey Romanov
LCs/Guarantees
Tel.: +38 044 205 35 94
romanov@forum.com.ua
Leonid Abysov
Tel.: +38 044 205 35 93
Project (long-term) financing
abisov@forum.com.ua