Documentary Operations

Documentary Letters of Credit

Armeconombank OJSC offers a wide range of services in the sphere of documentary operations:

  • Free of charge consultative services in all the phases of carrying out of documentary operations,
  • Issue of documentary LC with cash cover,
  • Issue of confirmed documentary LC with partial or no cover ,
  • Issue of non standard documentary LC (Red line, Deferred payment),
  • Confirmation of Documentary LC by leading foreign banks.
Bank Guarantees

ARMECONOMBANK OJSC offers a wide range of services in sphere of documentary operations:

  • Provision of advance payment guarantee,
  • Export finance secured by bank guarantee,
  • Tender guarantees (guarantee to participate in tender),
  • Performance bonds,
  • Payment guarantees (Stand By LC),
  • Issue of guarantees by leading foreign banks based on ARMECONOMBANK counter-guarantee.
Documentary Collection

ARMECONOMBANK offers its customers to benefit from documentary collection service. Documentary collection is a settlement instrument, by which the buyer (Importer) obtains a property right on goods against payment or acceptance of draft issued in the name of the buyer (Importer), within the term stipulated in the letter enclosed to delivery documents.

Documentary LC
LC notification AMD 25,000
LC issue 0,15%, min AMD 40,000
Conformation of LC by other Bank, issued by ARMECONOMBANK OJSC According to the tariff of confirming banks
Confirmation of LC by ARMECONOMBANK OJSC, issued by other Banks Contractual
LC transfer 0,1%, min AMD 25,000
LC terms amendment AMD 15,000
LC cancellation AMD 25,000
Inspection and acceptance of LC documents without controversy AMD 25,000
Inspection and acceptance of LC documents with controversy AMD 50,000
LC payments according to documents presentation 0,15%, min AMD 10,000 max AMD 50,000
LC issue under EBRD, IFC and ADB AMD 25,000
LC terms amendment, cancellation within EBRD, IFC and ADB (additionally are charged also commission fees charged by correspondent banks) AMD 25,000
Providing Bank guarantee in RA
Under monetary fund's collateral
Up to AMD 5,000,000 0.5% monthly
In case of exceeding AMD 5,000,0012 AMD 25,000 monthly
Under other funds collateral 1% monthly
Minimum commission fee for the whole period of guarantee operation AMD 20,000
International guarantee
Guarantee notification AMD 25,000
Guarantee terms amendment, cancellation AMD 50,000
Guarantee payment, according to the requirement of confirming bank AMD 30,000
EBRD, IFC and ADB guarantee issue AMD 25,000
Guarantee terms amendment, cancellation within EBRD, IFC and ADB (additionally are charged also commission fees charged by correspondent banks) AMD 50,000
Documentary collection
Documents against payment or acceptance 0,2%, min AMD 25,000
Accepting and sending of documentary collection 0,2%, min AMD 25,000
Collection instruction terms amendment, including cancellation AMD 15,000
Collection payment 0.2%, min AMD 10,000

  1. Additionally, commission fees and postal expenses charged by the correspondent banks may be charged.
  2. In case where the guarantee exceeds AMD 5,000,000 (or equivalent currency), the formula of commission fee calculation (in the sample the guarantee is extended with 101 days) is: AMD 25,000*12/365*101 = AMD 83,013.6.
Documentary Letters of Credit

Armeconombank OJSC offers a wide range of services in the sphere of documentary operations:

  • Free of charge consultative services in all the phases of carrying out of documentary operations,
  • Issue of documentary LC with cash cover,
  • Issue of confirmed documentary LC with partial or no cover ,
  • Issue of non standard documentary LC (Red line, Deferred payment),
  • Confirmation of Documentary LC by leading foreign banks.
Bank Guarantees

ARMECONOMBANK OJSC offers a wide range of services in sphere of documentary operations:

  • Provision of advance payment guarantee,
  • Export finance secured by bank guarantee,
  • Tender guarantees (guarantee to participate in tender),
  • Performance bonds,
  • Payment guarantees (Stand By LC),
  • Issue of guarantees by leading foreign banks based on ARMECONOMBANK counter-guarantee.
Documentary Collection

ARMECONOMBANK offers its customers to benefit from documentary collection service. Documentary collection is a settlement instrument, by which the buyer (Importer) obtains a property right on goods against payment or acceptance of draft issued in the name of the buyer (Importer), within the term stipulated in the letter enclosed to delivery documents.

Documentary LC
LC notification AMD 25,000
LC issue 0,15%, min AMD 40,000
Conformation of LC by other Bank, issued by ARMECONOMBANK OJSC According to the tariff of confirming banks
Confirmation of LC by ARMECONOMBANK OJSC, issued by other Banks Contractual
LC transfer 0,1%, min AMD 25,000
LC terms amendment AMD 15,000
LC cancellation AMD 25,000
Inspection and acceptance of LC documents without controversy AMD 25,000
Inspection and acceptance of LC documents with controversy AMD 50,000
LC payments according to documents presentation 0,15%, min AMD 10,000 max AMD 50,000
LC issue under EBRD, IFC and ADB AMD 25,000
LC terms amendment, cancellation within EBRD, IFC and ADB (additionally are charged also commission fees charged by correspondent banks) AMD 25,000
Providing Bank guarantee in RA
Under monetary fund's collateral
Up to AMD 5,000,000 0.5% monthly
In case of exceeding AMD 5,000,0012 AMD 25,000 monthly
Under other funds collateral 1% monthly
Minimum commission fee for the whole period of guarantee operation AMD 20,000
International guarantee
Guarantee notification AMD 25,000
Guarantee terms amendment, cancellation AMD 50,000
Guarantee payment, according to the requirement of confirming bank AMD 30,000
EBRD, IFC and ADB guarantee issue AMD 25,000
Guarantee terms amendment, cancellation within EBRD, IFC and ADB (additionally are charged also commission fees charged by correspondent banks) AMD 50,000
Documentary collection
Documents against payment or acceptance 0,2%, min AMD 25,000
Accepting and sending of documentary collection 0,2%, min AMD 25,000
Collection instruction terms amendment, including cancellation AMD 15,000
Collection payment 0.2%, min AMD 10,000

  1. Additionally, commission fees and postal expenses charged by the correspondent banks may be charged.
  2. In case where the guarantee exceeds AMD 5,000,000 (or equivalent currency), the formula of commission fee calculation (in the sample the guarantee is extended with 101 days) is: AMD 25,000*12/365*101 = AMD 83,013.6.
Last modified on Friday, 29 August 2014 14:47