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. |
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
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% |
Letter of Credit – Process flow
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.
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.
Our vision
To become a world-class bank pioneering development and creating value with its customers.
Our slogan
Your financial partner to accelerate the development.
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.
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
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 |
– |
The account does not charge any withdrawal or transaction fees.
- 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.
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.
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;