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2020 Jul 05

Currency Name Buy Sell Currency Name Buy Sell
TRY10,33610,440Last update : 2018-04-29
sell/buy currency

A documentary credit, also known as a letter of credit (L/C), is a written undertaking by a bank on behalf of a buyer / importer to pay the seller an amount of money within a specified time provided the seller presents documents strictly in accordance with the terms laid down in the L/C.

Tose’e Ta’avon Bank, in compliance with the Central Bank of the Islamic Republic of Iran´s FOREX Regulations and By-laws, is prepared to provide letters of credit available by sight or deferred payment. We are also ready to negotiate and advise credits.

Tose’e Ta’avon Bank branches throughout the country are ready to accept applications for issuing letters of credit. All credits are handled according to the latest version of the UCP.

Documentary collection is a transaction whereby the exporter entrusts the collection of payment to the remitting bank (exporter’s bank), which sends documents to a collecting bank (importer’s bank), along with instructions for payment. Funds are received from the importer and remitted to the exporter through the banks involved in the collection in exchange for those documents.

At Tose’e Ta’avon Bank we are prepared to handle documentary collections for both exporters and importers.

TTbank transfers money via T/T and perform operations related to Import / Export Transfers via it’s correspondent banks inside and outside Iran. Our services are applicable to both received and issued transfers through swift and facsimile and etc…


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