Forfaiting A LETTER OF CREDIT

We understand the challenges facing exporters in Macedonia. Your export business requires a tool that allows you to convert deferred payments into cash transactions. ProCredit Bank therefore offers forfaiting to increase the competitiveness of your goods overseas.

 

What is Forfaiting?

forfaiting(discounting) a letter of credit represents the purchase of a trade demand that arises from the executed export of goods and services with payment by the bank of the forfaiting(bank of the user of the letter of credit) on a future (agreed) date.

The purchase of a claim is without recourse, and the exporter (seller of goods) receives funds lowered by the interest rate of the bank Forfaiting(bank of the user of the letter of credit).

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How can I apply for Forfaiting?

  • Apply by filling out an application form to issue payment collection documents
  • Request your business partner’s bank to send a loro guarantee to ProCredit Bank
  • For further information, please call our Contact Centre on: 02/ 2446 000 or email us at: info@procreditbank.com.mk