The Bank of Moscow is among the leaders in the field of trade financing in the Russian market. The Bank offers services to a wide range of customers in Moscow and 56 regions of Russia to support domestic and foreign trade activities.
The use of trade financing instruments allows the customers of the Bank of Moscow to achieve considerable decrease in commercial and financial risks connected with export-import transactions, to cut down expenses, as well as to optimize financial flows.
The Bank of Moscow offers to its customers the following products and services in the field of trade financing and international settlements:
- Import financing — financing of customers by opening a Letter of credit and/or drawing of bank guarantees (if necessary confirmed by first class international banks), organization of settlements and financing of import transactions involving other banks, international financial organizations, export insurance agencies;
- Individual consulting on settlement optimization:
- Assistance in settlements organization in view of the specific features of the counterpart country,
- Working out of payment clauses of contracts and agreements,
- Full range of services for import/export letters of credit, including at settlements in roubles with the CIS member states — opening, advising, confirmation, transfer, payment, organization of negotiation (discounting included) of documents related to export letters of credit;
- Granting of all kinds of guarantees, as well
as stand-by letters of credit, including:- Working out of the texts of warranties ensuring maximum possible protection of the cu stomers’ interests,
- Advising and confirmation of the authenticity of guarantees issued by foreign banks in favour of customers,
- Clean and documentary collection.
The use of these products and services in import (procurement) operations ensures the following advantages to the importers — customers of the Bank of Moscow:
- Decrease in credit risks due to abandoning advance payments,
- Decrease of country and legal risks in foreign trade contracts;
- Granting of a payment guarantee to the supplier only subject to the goods delivery in strict conformity with the nomenclature, quality and stipulated terms of shipment;
- Significant decrease of the cost of import (procurement) financing as compared to simple crediting;
- Possibility of payment by instalments for the goods delivered;
- Possibility to show one’s partners one’s competence in the field of organization of settlements under commercial transactions as well as to confirm one’s solvency.
On the other hand, there are advantages from operation with the trade financing instruments of the Bank of Moscow obtained by the customers acting as sellers in the transaction:
- Bank guarantee of payment for the goods delivered subject to proper performance of the terms of the contract related to the goods shipment;
- Strictly regulated and fast receipt of payment for the goods delivered after shipment;
- Increase of the offered goods competitiveness due to suggestion of various forms of payment for the goods without increasing the risk of non-payment;
- Possibility to obtain financing for procurement of goods through intermediary operations due to structuring of financial flows with the use of transferable or back-to-back letters of credit.
The Bank of Moscow has all the resources and infrastructure necessary for trade financing on the conditions most favourable to its customers.
The rich
The extensive correspondent network numbering more than 850 correspondent banks worldwide allows to effect settlements with no assistance of possible intermediaries (additional expenditures) and within the shortest period of time.
The bank has gained recognition of the leading financial institutions — a number of first class international banks and export insurance agencies have granted to the Bank of Moscow documentary credit facilities which allow making bargains with foreign counterparties on the conditions most favourable for our customers.
The use of international experience and advantages of trade financing instruments is possible both in foreign trade contracts, and in the trading contracts concluded between Russian companies.
Thereupon the trade financing possibility looks especially promising for the settlements within the system of the Bank of Moscow. More than 50 branches of the Bank operating in major commercial and industrial centres of Russia — from Kaliningrad to Yuzhno-Sakhalinsk and Petropavlovsk-Kamchatsky, allow to ensure financing under optimum conditions. This is connected first of all with that in this case the whole scheme of settlements is controlled by the Bank of Moscow, and non-payment risks are calculated quite accurately.
For additional information please contact the bank officials:
Tatyana S. Alekseyeva
Deputy Head of department of financing of trade
Head of the Transaction structuring division
Ph.
E-mail: Alekseeva_TS@mmbank.ru
Alexander E. Musiyko
Head of the Department of trade financing
Ph.
E-mail: Musiyko_AE@mmbank.ru
Department of trade financing:
Ph.
Fax
