According to Contract No. UZ-10-11 dated March 29, 2011, concluded between the PJSCB Orient Finans and Alliance Factors Service LLC (Moscow, Russia) on 04.04.2011, installation and configuration works SWIFT AllianceEntry. SWIFT CODE ORFBUZ22
Full list of services rendered by Orient Finans PJSCB to legal entities (corporate clients) in foreign currency
Opening and maintenance of accounts in foreign currency
- Transfers of foreign currency within the Republic.
- Transfers of foreign currency outside the Republic of Uzbekistan.
- Transactions with cash currency.
- Conversion operations.
Operations related to the conduct of foreign trade activities
- Maintenance and deregistration of export and import contracts.
- Conversion (purchase / sale) of foreign currency.
- Swap operations.
- SPOT operation.
- Consultations on the E-Contract.
Documentary operations
- Transactions with documentary letters of credit in foreign currency.
- The provision of bank guarantees and guarantees.
Documentary letter of credit
Documentary letters of credit are the most reliable way to settle in international trade for both importers and exporters of goods.
A documentary letter of credit is the obligation of the bank that opened the letter of credit (the issuing bank) on behalf of the buyer to pay the agreed amount to the seller, subject to the provision of the documents specified in the letter of credit to the seller.
The bank opens a letter of credit on the basis of instructions from the buyer (importer), drawn up in accordance with the terms of the contract. It is important for both the importer and the exporter of the goods to consider that letters of credit are a transaction separate from the sales contract or other agreements on which they are based. The obligations of the bank to execute the letter of credit are recorded in the text of the letter of credit itself.
The principle of operation of the documentary letter of credit
- The exporter and the importer of the goods enter into an agreement.
- The importer of goods applies for opening a letter of credit to the issuing bank.
- The issuing bank issues a letter of credit for the advising bank. The advising bank makes an advising letter of credit for the exporter.
- The exporter sends the goods to the importer, and the documents to the advising bank.
- The advising bank sends the documents to the issuing bank.
- The issuing bank makes the payment to the advising bank. The advising bank makes the payment to the exporter.
- The issuing bank sends the documents to the customer - the importer of the goods.
