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DOCUMENTARY COLLECTION SERVICES

As part of one of the largest banking groups in Europe and the world, and as a result of its years-long experience in operating on the international markets, Ohridska Banka Societe Generale is in a position to offer you various documentary collection services.

INCASSO

The Incasso is an instrument used in international trading operations and constitutes collection of a certain amount of funds through a bank, on the basis of certain presented documentation (an invoice, a shipping document, various certificates, etc.), with the bank playing the role of an intermediary.

As a payment instrument, the Inkasso is regulated by Publication 522, issued by the International Chamber of Commerce in Paris, along with the Uniform Rules and Customs governing Documentary Collections.

This tool is used to increase operational safety, especially when it comes to partners from the so-called high-risk countries.

The bank issues documents for collection (nostro inkasso) and accepts documents for payment (loro inkasso).


BANK GUARANTEES

The bank guarantee constitutes a collateral whereby the bank, upon receiving an order from and on behalf of a client, undertakes an irrevocable obligation to pay a certain amount of money according to the claim by the guarantee holder, even if its client fails to meet a particular payment or performance obligation.


NOSTRO DENAR AND FOREIGN EXCHANGE GUARANTEES

Upon receiving an order from a client, depending on the latter’s requirements and instructions, Ohridska Banka AD Skopje issues the following Denar/foreign exchange guarantees:

  • bid guarantees
  • payment guarantees
  • advance guarantees – guaranteeing advance payment return
  • performance guarantees – for a timely and high-quality performance of the work
  • guarantees for executing warranty obligations
  • guarantees for ensuring payment of a customs debt
  • loan repayment guarantees
  • guarantees for releasing a guarantee deposit
  • other types of guarantees in accordance with the client’s needs


Documents required for issuing/amending nostro guarantees

  • Request for issuance/amendment of a Denar/foreign exchange guarantee
  • Necessary documentation (a contract concluded with the foreign beneficiary, a pro-forma invoice, an invoice, an order, tender documentation, etc.)


LORO FOREIGN EXCHANGE GUARANTEES

Ohridska Banka AD Skopje performs the following guarantee services:

  • Receipt of guarantees through SWIFT or from the beneficiary, in original, and identification of the signatures’ authenticity
  • Notification – forwarding the warranty to the beneficiary
  • Forwarding of a Payment Claim upon a Loro guarantee from the beneficiary to the guaranteeing Bank, along with the accompanying documentation.

Signatories authorized to sign electronic guarantees


DOCUMENTARY LETTERS OF CREDIT

The letter of credit is an important payment instrument in foreign trade, whereby the buyer places a certain amount of money at the seller’s disposal through the bank, so that the latter may collect it after having fulfilled certain previously agreed terms within a given deadline.

This instrument reduces the business risks and protects the interests of both contracting parties: the buyer is sure they will receive the quantity and quality of the goods according to the contract and within the agreed delivery deadline, while the seller is sure that they will be able to collect the payment for the goods delivered.


Advantages of using this payment instrument

  • The most reliable international payment and security instrument
  • Reduced risk when doing business abroad
  • Internationally regulated by the Uniform Rules and Customs for Documentary Letters of Credit
Types of letters of credit
  • Nostro
  • Loro

Terms for obtaining nostro letter of credit

  • A duly filled-in Form 1451, along with the documentation provided by the importer, as well as complete instructions regarding the terms laid down in the letter of credit
  • An invoice or pro-forma invoice as a document required for commodity letters of credit
  • Coverage for obtaining a letter of credit (secured Denar or foreign exchange funds) or deferred coverage in accordance with the policy and procedures of Ohridska Banka.

Terms for obtaining loro letter of credit

  • A duly filled-in Form 1451, along with the documentation provided by the importer, as well as complete instructions regarding the terms laid down in the letter of credit
  • An invoice or pro-forma invoice as a document required for commodity letters of credit
Depending on the agreement concluded with the clients and the applicable payment terms, the letter of credit can be: confirmed or unconfirmed, transferrable, stand-by, revolving, etc.