Being one of the major a foreign bank in Uzbekistan, JSC “KDB Bank Uzbekistan” has partnership with other well-known foreign partner banks that provides the most advanced forms of documentary payments and trade finance instruments based on international practices.
The main tasks of Trade Finance Department of the Bank is to provide high quality, timely and efficient trade finance services to corporate customers. Trade Finance Team operates strongly in accordance with a range of legislative and normative documents of The Republic of Uzbekistan and with international rules such as Uniform Customs and Practice for Documentary Credits (ICC publication number 600, edition 2007), Uniform Rules on Safeguards of the International Chamber of Commerce, INCOTERMS 2010.
The Range of Services
Documentary Letter of Credit
A monetary obligation of the bank that opens the letter of credit (the issuing bank) to pay the agreed amount to the seller on behalf of the buyer, upon receipt of the documents specified in the letter of credit.
The role of Bank under Letters of Credit (L/C)
Issuing and servicing of letters of credit is regulated by the Uniform Customs and Practice for Documentary Credits, 2006 revision (ICC publication # 600)