Servicesfor individuals
Pension program
You do not have to queue on at the post-office or to wait for your pension at home for the whole day — we offer you to receive pension at PRAVEX-BANK. You have just to address the Bank and you will be able to receive pension at any time and any point of Ukraine.
all services↓also in section
Documentary letters of credit
Documentary operations
For corporate clients
Types of documentary letters of credit
The following types of documentary letters of credit are distinguished:
- depending on the level of guarantee of amount payment, which shall be paid to beneficiary:
- irrevocable and revocable
Irrevocable letter of credit, as opposed to revocable letter of credit, can be changed or cancelled by issuing bank only upon approval of Beneficiary, in favour of which it was opened, and confirmed bank (if any).
- depending on securing by Applicant's funds:
- secured and unsecured
secured/unsecured letter of credit- is a letter of credit, secured/unsecured by own Applicant's own funds.
- depending on availability or unavailability of letter of credit confirmation on behalf of other Bank:
- confirmed and unconfirmed
on confirmed letters of credit, as opposed to unconfirmed, payment is guaranteed by issuing bank as well as by other one (confirmed ) bank, located in the country of beneficiary (exporter);
- depending on location or subject of performance:
- letters of credit, which are executed by issuing bank in the country of importer;
- letters of credit, which are executed by advising or confirmed bank, which is located in the country of beneficiary (exporter);
- letters of credit, which are performed with the third bank participation.
- depending on availability of other beneficiaries:
- transferable and non-transferable
;
- depending on implementation method of liability of letter of credit:
- with payment after sight;
- with payment by installments;
- with acceptance;
- with negotiation.
There exist a special type of letters of credit- stand-by letter of credit. Stand-By letter of credit (Stand-By L/C, SBLC), as well as bank guarantee, is an instrument of liabilities implementation security. Stand-by letter of credit can be regulated by the same international rules as all other letters of credit (e.g. by Uniform Customs and Practice for Documentary Credits (UCP-600)), or special rules-International Practice of Standby Letter of Credit (ISP-98).
print page »