Documentary operations

DOCUMENTARY OPERATIONS

Our mission is to facilitate our clients' business processes with our professionalism and expertise, dedication, expeditiveness and readiness and accuracy in performing documentary services. Adequate consulting support is a strong assurance for successful deal and satisfied clients.

Documentary operations are part of the offer of services and products for the Bank’s clients.Documentary operations are part of the offer of services and products for the Bank’s clients.

• Guarantee Operations
• Documentary Credit Operations
• Documentary Collection(Incasso) Operations 
  

Tariffs

Contact points

Nikolche Trajcheski – Manager of Documentary Credit  Operations and Guarantee Department

Phone +389(0) 47 207 526

E-mail NIKOLCE.T@stbbt.com.mk

Divna Popovska – Professional Associate in the Documentary Credit  Operations and Guarantee Department 

Phone +389(0) 47 207 735

E-mail DIVNA.P@stbbt.com.mk

GUARANTEE OPERATIONS

A bank letter of guarantee is a single and safest instrument for ensuring payment between business entities, and irrevocable obligation of the Bank (in written form) to pay a relevant amount of money in case of default of the obligations agreed between both entities.

Legal and natural persons may be instructing party and user of the bank letters of guarantee.

Types of letter of guarantee issued by Stopanska banka a.d. Bitola

PAYMENT GUARANTEES – GUARANTEES FOR SECURING PAYMENT

• Payment guarantee for supply of goods / provision of services
• Customs guarantee (general and individual)
• Credit guarantee 
• Guarantee for securing payment of tax obligations
• Guarantee for securing payment of utilities and leases
• Guarantee for issue of TIR Carnets and securing IATA obligations
• Guarantee for securing obligations of an entity other than the Instructing Party, i.e. for potential transfer of a business debt between other entities, irrelevant of the obligation nature (collateral guarantee)
  

PERFORMANCE GUARANTEES 

• Bid / tender guarantee
• Guarantee for good (quality) performance (Performance Guarantee)
• Guarantee for advance repayment (Advance Payment Guarantee)
• Guarantee for obligations within a warranty period
• Other types of letters of guarantee in line with the client’s requests and needs
  

What are requirements for issue of nostro bank guarantee?

• To have opened MKD and foreign currency account in Stopanska banka a.d. Bitola
• Issue Application
• Documented basis for issue of the letter of guarantee (agreement, pro-forma invoice, invoice, order, tender documentation or other documents reflecting the deal)
• Adequate collateral
  

LORO bank guarantees

Stopanska banka a.d. Bitola provides the following loro guarantee services to its clients:

• Consulting service
• Receipt of letters of guarantee through SWIFT or from the user in original and identification of signatures authenticity;
• Notification – forwarding the letter of guarantee to the user;
• Forwarding the payment request for loro guarantee from the user to the guarantor bank together with the accompanying documentation.
  

FEES AND COMMISSIONS

Depending on the type of the letter of guarantee, collateral and currency, starting from 0.15% quarterly, minimum MKD 1,500.00 in compliance with the Fee and Commission Tariffs of Stopanska banka a.d. Bitola

DOCUMENTARY CREDIT OPERATIONS

Documentary credit offers a single universally accepted method of payment in the international trade since it equally protects the interests of both the buyer and seller.

Documentary credit is irrevocable written obligation of the Bank (issuing bank) assumed on behalf of the instructing party (usually a buyer of goods or service user), that will pay to the provider (usually a seller or service provider) the value of the documents in an agreed term under condition that the documents delivered be in accordance with the terms and conditions envisaged in the letter of credit

Nostro (import) letter of credit is a payment instrument in case of import of goods and services.

Loro (export) letter of credit is an instrument securing payment of export of goods and services

What are the requirements for OPENING Nostro LETTER OF CREDIT To have opened MKD and foreign currency account in Stopanska banka a.d. Bitola

• Application for opening a letter of credit
• Documentary base for opening a letter of credit (agreement, invoice or pro-forma invoice of the agreed import)
• To have duly completed Form 1451 (p. 1 and 2) signed by the instructing party
• Adequate collateral

Loro (export) letter of credit is an instrument securing payment of export of goods and services

Confirmation 

Stopanska banka a.d. Bitola has established a long-term cooperation with reputed world banks for confirmation of the letters of credit issued by the Bank.

 FEES AND COMMISSIONS

Depending on the type of the letter of credit, collateral and currency, starting from 0.30% quarterly, minimum MKD 1,000.00 for nostro letters of credit, 0.10%, minimum MKD 1,000.00 for loro letters of credit in compliance with the Fee and Commission Tariffs of Stopanska banka a.d. Bitola.

SWIFT charges – MKD 400.00

DOCUMENTARY COLLECTION 

Documentary Collection is an instrument used in the international trade for payment or collection of a relevant amount of funds through a bank based on presentation of relevant documentation. In Documentary Collection Operations, the Bank appears as an intermediator. 

Simultaneously with delivery of the goods, the exporter delivers the documents in their bank which are to be forwarded to the importer’s bank accompanied by strict payment instructions. The importer’s bank delivers the documents to the importer, and thereby the ownership of the goods at the time when they are paid by the importer, paying to the exporter’s bank in line with the instructions obtained and the entire financial cycle is closed.

The Bank sends the documents for payment – nostro documentary collection and acceptance of the documents for payment – loro documentary collection.In case of documentary collection, the documents might be financial documents (invoice, bill of exchange, check) or commercial documents (transport documents, insurance documents, various certificates and etc.), or often their combination. 

What are the requirements for documentary collection?

To have opened MKD and foreign currency account in Stopanska banka a.d. Bitola.

FEES AND COMMISSIONS

Fees and commissions for documentary collection are under the Fee and Commission Tariffs of Stopanska banka a.d. Bitola

as from 0.26% of the collection amount, minimum MKD 500.00