Letter of Credit

Get a conditional bank guarantee with
Letter of Credit

Letter of credit is a bank obligation that a certain amount will be paid to the seller of goods or services, on condition that the stipulated document indicating that the goods have been loaded or the service has been performed within the specified period. Briefly, the letter of credit is a conditional bank guarantee.

In international trade, the parties are under mutual distrust and risk since they do not familirize to each other and different exchange regimes are applied in different countries.

The seller aims to collect the price of the goods he sells, and the buyer aims to receive the goods specified in the contract on time. If the seller does not comply with the terms of the letter of credit, the bank will not pay under no circumstances. This is an assurance factor for the buyer. For this reason, the letter of credit is a type of payment option that provides the highest level of assurance to both parties.

If you are not a customer of Near East Bank yet, just visit the nearest Near East Bank Branch!

The features of
Letter of Credit

The bank does not make a to the seller who does not fulfill the terms of the letter of credit. This is an assurance for the buyer.
It ensures that the goods are payment loaded in accordance with the terms of the contract and when due.
The parties undertake to pay when they submit the documents specified in the Letter of Credit, to the bank.
It provides financing facility to the seller.

Things to know about
Letter of Credit

  • Tax Regsitration Certificate
  • Corporation ByLaw
  • Company Approval Set (not more than 3 months)
  • Company partners, secretary and director identity copies
  • Company balance sheet and trial balance (last 3 years)
  • Signing the request form for the Central Bank Risk Inquiry
  • Board of Directors Decision
  • If a real estate mortgage is to be taken, the photocopy of the Real Estate Deed
  • If a vehicle pledge is to be taken, a photocopy of the Vehicle Deed
  • Right after the necessary documents are signed and submitted to the Near East Bank Customer Respresentative, you will be informed about your application within a week.

  • You can apply for the loan immediately and complete your transactions easily. You can easily apply from our Call Center at 444 0 632, WhatsApp line 0542 880 06 32, Internet Banking, Near East Mobile, Near East Bank Facebook page, by contacting us on iletisim@neareastbank.com or from our branches.