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Documentary Operations

Finrostbank offers the following types of products and services:

- documentary credits and collections on foreign trade contracts

- bank guarantees and standby letters of credit

- export trade financing

- import trade financing

- long-term import financing

- advice on organization of international payments.

Guarantees (sureties) are provided by the Bank under the terms and conditions stipulated in a guarantee (surety) contract including such mandatory conditions as:

- Security. Means the Bank’s right to protect its interests and prevent losses from non-repayment of the debt due to insolvency of the principal.

- Maturity. Means that the guarantee (surety) is provided for a fixed term set in a contract.

- Repayment. Provides for debt repayment by the principal in case of guarantee (surety) payment by the Bank.

- Serviceability. Means that a guarantee (surety) is available for a fee.

- Target use. Determines the availability of documents that prove the principal's obligation secured with guarantee (surety).

Before addressing the issue of a guarantee (surety), an analysis of financial and economic potential of the principal should be made to determine its creditworthiness and solvency. To do this, when applying to a bank, a customer shall provide the necessary documents.

The fee for using a guarantee (surety) and the procedure for payment is established by the Bank as resolved by the credit committee and specified in a guarantee (surety) agreement.