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Letter of credit

Export L/C fees and commission

EXPORT LC 

Fees and commission

Advising of L/C 

USD 20.00

Document check and perform the payment 

USD 50.00

Advising of amendment to term and condition 

USD 10.00

Advising of cancellation of the LC

USD 25.00

Bank confirmation fee

According to the decision approved by the Credit Committee.

Dispatch document by courier

According to DHL tariff

Any other banking fees and commission

All banking charges shall be deducted from the account of the beneficiary.

Categories
Letter of credit

Key advantages for exporters

  • Reduce the risks of international trade across different countries
  • Lower cost 
  • The exporter will be able to secure payment of the goods by providing the documents that meet the terms and conditions as specified in the letter of credit.
  • Reduces production risk, if the importer terminates or changes their order
  • The exporter can obtain pre-financing from the bank after the goods are shipped until they receive payment (subject to post-payment terms) from the importer 
  •  The definite payment date allows the exporter to manage its cash flow effectively
  • Upon presentation of documents that comply with the terms of condition under the LC,  the importer will not be able to refuse the payment of the underlying goods
Categories
Letter of credit

Import L/C fees and commission

IMPORT L/C 

Fees and commission

Issuance of L/C

USD 100.00

Document check and perform the payment 

USD 50.00

Additional service (upon customer’s request )

USD 30.00

Amendment fee 

USD 30.00

Cancelation fee 

USD 30.00

Document discrepancy charge (per set of documents ) 

USD 50.00

Any enquiries at the request of the customer 

USD 10.00

Risk commission rate per annum 

2%-4%

Categories
Letter of credit

Letter of Credit – Process flow

Categories
Letter of credit

Financial advice

We are keen to work together to provide you with valuable financial advice and bring your business to international business standards. We will work with you from the time that you sign a trade agreement until receive your goods as an importer and/or and receive payment for the goods as you sell your goods as an exporter.

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Brief introduction of the bank

Our mission

We will deliver advanced and comprehensive financial solutions through customer-centric services to our customers based on the approach of providing responsible financing and good governance services integrated with sustainable development through a team of professional experts.

Categories
Brief introduction of the bank

Our vision

To become a world-class bank pioneering development and creating value with its customers.

Categories
Brief introduction of the bank

Our slogan

Your financial partner to accelerate the development.

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Valuables

Customers:

By providing a comprehensive and satisfying financial service based on the needs of our customers, we will exceed their expectations, thereby increasing their financial ability and confidence and increasing their value.  

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Account service in ‘Gold’ denomination

Benefits

  • Deposit physical Gold as a bar by a floating valuation of XAU denomination
  • Safe and risk-free
  • Does not charge any withdrawal or transaction fees
Categories
Account service in ‘Gold’ denomination

Terms and conditions

Terms for gold current account (XAU)

Account currency

XAU- Gold /Oz/

Interest rate /annual/

 In face of the global pandemic COVID-19, no interest will be paid for any type of current accounts, during the implementation of the “Law on Prevention, Control and Reduction of Social and Economic Impact of Coronavirus”.

Minimum balance requirement

 –

Categories
Account service in ‘Gold’ denomination

Fees and charges

The account does not charge any withdrawal or transaction fees.

Categories
Account service in ‘Gold’ denomination

Eligibility or required documents

  • Customer application form /download here/;
  • An original copy of the “Trading permit” issued by the The Financial regulatory commission /FRC/;
  • Documents required:
    • For Mongolian citizens: Citizen ID card.
    • For foreign citizens: Certificate of Alien Registration Card and Passport Copy.
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Valuables

Social responsibility:

By developing a competitive business organization, we will work hard to build the well-being of the environment, the environment and our people.

Categories
Escrow account

Benefits

  • Can prevent from the potential multilateral issues, misunderstandings and doubts between the parties and cover risks;
  • Reliable and safe transfer of the funds by the bank with the consent of the parties who are subject to the terms of the agreement;