What are the terms of premature payment of letters of credit for export (discounting)?

  • The buyer and the seller enter into a Premature payment agreement, defining common conditions of the documentary letter of credit

  • The letter of credit must be approved by UAB Medicinos Bankas (by the request of buyer), e.g. UAB Medicinos Bankas must accept the bueyer’s risk

  • The documents provided must comply with the conditions of the letter of credit or they must be accepted by the seller

  • The bank pays up to 100% of the value of the document (minus discounting)

  • Discounting can be combined with crediting the client by the bill of exchange

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