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Discounting of Export Letters of Credit

Discounting of  Export Letter of Credit is a prepayment of documents submitted in accordance with the export letters of credit issued by the Bank's client before its payment maturity.

What are the benefits of the service?

How to take advantage of this service?

  1. The Bank and the seller shall make an agreement of  letter of credit document prepayment.
  2. The seller receives a letter of credit in its favour.
  3. The seller shall provide the bank with the documents of goods meeting the terms of the letter of credit and the bank shall receive a deferred payment date from the bank that issued a letter of credit  and a statement confirming the payment amount.
  4. The Bank shall assess the risk of the bank that issued a letter of credit (the letter of credit is approved by the bank).
  5. The seller shall receive settlement from the bank against documents (discounted documents of a letter of credit) of goods provided under the letter of credit .
  6. On the due day of the deferred payment, the Bank shall receive payment from the bank that issued a letter of credit.

Whom to address regarding questions about discounting of export letters of credit?

We kindly recommend You to contact the Trade Finance and Factoring Department of Šiaulių Bankas:

Required information  and assistance can also be provided in a customer service point  which is servicing Your company or by the Bank's Remote Call Centre by tel. 1813  (+370 301 337 337 when calling from abroad).