Trade finance: Guarantees and Letters of Credit | Societe Generale Montenegro
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Naslovnica > Corporate > Loans > Trade finance: Guarantees and Letters of Credit
Dokumentarni poslovi: garancije i akreditivi SGM
Trade finance: Guarantees and Letters of Credit

As part of one of the most developed banking groups with long experience, Societe Generale Montenegro offers the services of documentary operations:

  • guarantees
  • letters of credit.

Guarantees

Guarantee is used as collateral for payments in domestic and international operations and it secures the payment and fulfillment of some contractual obligation.

The Bank offers the following types of guarantees:

  • bid guarantees
  • payment guarantees
  • customs guarantees
  • advance payment guarantees
  • performance guarantees 
  • guarantees for the warranty period

In addition to those guarantees, where the Bank is guarantor, we provide the services of guarantee confirmation (nostro and loro).

Letters of Credit

Letter of credit is collateral for payments in international operations where the principal of the letter of credit (the buyer) provides to the beneficiary of the letter of credit (the supplier) a certain amount of money, provided that the beneficiary of the letter of credit (the supplier) submits the documentation required by the letter of credit. Letter of credit represents security for the beneficiary (the supplier) that the delivered goods or services will be paid if the requirements of the letter of credit are met. For the principal (the buyer) letter of credit represents security that the purchased goods or used services will be paid only if the submitted documents meet the requirements of the letter of credit and if the commercial agreement is implemented.

The Bank may issue:

  • import letter of credit with deposit or with deferred deposit
  • export letter of credit
  • stand-by letter of credit

Societe Generale Montenegro provides the notifications of the letter of credit which are, as collateral, submitted to the Bank clients by their business partners through their commercial banks.  

Thanks to the long experience of the Bank in documentary operations, we provide to our clients consulting services in interpretation of the letter of credit requirements  and international business practices

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