Good News Service of Gazbank

(846) 310-09-09
224, Molodogvardeiskaya Street, Samara, 443100, Russian Federation
Exchange rates
as of 29.07.2017
We buy at We sell at
USD 58,53 60,37
EUR 68,57 70,73
Precious metals
as of 29.07.2017
We buy at We sell at
Gold, 1 g 2369,23 2441,39
Silver, 1 g 30,84 32,42
Platinum, 1 g 1730,54 1828,41
Palladium, 1 g 1629,79 1721,97

Documentary Business

Gazbank performs international settlements in rubles and foreign currency under export-import contracts of customers in various forms accepted in international banking practice: transfers, documentary letters of credit, documentary collection, banking guarantees using various flexible schemes that allow to combine various forms of settlements.

When implementing documentary settlements, Gazbank uses its correspondent relations with the largest European and Russian banks. The use of the SWIFT system makes it possible to speed up the exchange of interbank telecommunications messages as quickly as possible.

The commission of another bank involved in execution of client's orders for documentary operations, for investigation and cancellation of transfers at the request of the client, is charged to the client's account.

Payment for the bank's tariff services is carried out in rubles at the rate of the US dollar set by the Bank of Russia on the day of payment of the commission. When making transactions on the customer's account in currencies other than US dollars, the Bank of Russia cross-rate is taken for calculation.

Documentary letters of credit

When using letters of credit as forms of settlements for export-import transactions, three parties are involved:

  • The seller (the recipient of funds).
  • The buyer (the payer of funds).
  • Issuing bank.

By opening a letter of credit on behalf of the buyer, the bank (issuing bank) assumes the obligation to make payments in favor of the seller, if the last provided documents that meet the conditions of the letter of credit. The powers of the issuing bank can be transferred to another bank (the executing bank).

Gazbank can perform the functions of both the issuing bank and the performing bank:

  • Advising of credits and amendments to it;
  • Opening letters of credit in rubles and foreign currency on behalf of the client for settlements on export and import transactions;
  • Making amendments to the conditions of an open letter of credit;
  • Confirmation of a letter of credit opened for the benefit of the client;
  • Acceptance and verification of documents for compliance with the terms of the letter of credit, sending documents to the issuing bank;
  • Execution of a letter of credit by payment or acceptance of drafts or requesting payment under a letter of credit (reimbursement);
  • Transfer of transferable letters of credit;
  • Cancellation of the letter of credit.

The use of Gazbank's letter of credit allows minimizing commercial risk when concluding export-import contracts, ensuring reliable and prompt fulfillment by the parties of their obligations

The advantages of using a letter of credit for the seller

  • Guaranteed receipt of payment in case of fulfillment of all contract terms;
  • Payment immediately after the shipment of the goods;
  • Simplification of the delivery with the use of transferable letter of credit in intermediary transactions.

The advantages of using a letter of credit for the buyer

  • Guaranteed delivery of goods in accordance with the nomenclature, terms and other conditions set forth in the credit;
  • Guarantee that the seller will not receive payment for the goods until they fulfill the terms of the contract.

Bank guarantees

Gazbank accepts warranty obligations and provides its customers with the following types of guarantees:

  • Guarantee of return of advance payment;
  • Guarantee of performance of obligations under the contract;
  • Guarantee of payment;
  • Tender guarantee;
  • Loan repayment guarantee.

Gazbank also advises bank guarantees of foreign banks (including changing conditions, increasing the amount, etc.).