Own documentary letter of credit (import) is an ideal form of regulating the amount due in foreign transactions. It allows the importer to obtain deferred payments and to secure proper contract execution by the exporter. Letter of credit is a right solution in the case when you start cooperation with a new contracting party, whom you do not trust, or when you need support from the bank in order to support your investment project.

The importer of goods and services, acting as an ordering party of the own documentary letter of credit (import), may:

• file an electronic order to open own documentary letter of credit on a form which is fitted with drop down list to simplify the process of selecting a ready answer and an automatic validation of completeness and cohesion of data in defined and related order fields
• place electronic orders and instructions on active own letter of credit:
  • order to change the terms and conditions of an active letter of credit
  • order to withdraw reservations indicated by the Bank to trade documents, presented by the beneficiary of letter of credit
  • order to sustain reservations indicated by the Bank to trade documents, presented by the beneficiary
  • application for presenting incompatible documents
  • order for closing the letter of credit
  • order for writing down the unused letter of credit balance
• review data of all own active letters of credit (including letters of credit serviced traditionally, outside the iBRE system) and generated in the Bank documents and confirmations, connected with execution of orders placed via iBRE system
• monitor the process of handling orders and instructions on the basis of the system information on their current status