Atlantico Millenium Bank - Document Credit

The right solution for international business

Increased security and guaranteed reception;

Increased payment terms to suppliers;

Assessment and mitigation of major risks inherent in the international trade;

Allows the anticipation of funds through parallel banking operations, such as discounts or bonuses on the letter of credit;

Act based on the rules and uniform practices of the International Chamber of Commerce, as well as the laws of the Banco Nacional de Angola.

Characteristics

Understand the product so that it can serve your need, whether it is reception via exportation or payment via importation.
The document credit is a type of credit made available to corporates to guarantee the payment of operations regardless of the capacity of settlement of clients.
- It is Credit because it is an irrevocable commitment by an issuing Bank to honour a payment obligation accordingly.
- It is Document because it is by the existence of the documents that the commercial transaction and the guarantee of payment of the transaction is confirmed.
This commitment involves the Import and Export activity and provides confidence between both commercial parties.
Credit Document for importing - credit opening agreement established between ATLANTICO and the Importing Client, in which a signature credit is granted with conditions specified in Contract.
Credit Document for exporting - A secure way to irrevocably guarantee the reception of the amount relating to the export, against the delivery of the documents and compliance with the terms and conditions of the credit. It allows the negotiation of early reception of the export value after delivery of the documents to the Bank.

How it works

The Bank of your foreign supplier sends ATLANTICO the necessary documents for the withdrawal of the goods imported by your Corporate. The documents will be delivered to you when we receive the accepted payment proof, or partial payment remaining according to the conditions determined by the Exporter.

Explanation

1. Beneficiary - Requests a Bank Guarantee from the Sender taking into account the service/conditions that have been agreed;
2. The Sender requests his Bank to contact the Beneficiary's Residence/Geographical Bank, so that he can issue the Guarantee in favour of the Beneficiary;
3. The Issuing Bank requests the Guarantor Bank, (Bank of the Beneficiary) to issue the Guarantee in favour of the Beneficiary, against guarantee by the Beneficiary;
4. The Beneficiary Bank analyses the details of the operation, and accordingly issues the guarantee, remits to the Issuing Bank;
5. The Issuing Bank forwards the guarantee to the Sender;
6. The Sender validates the Draft and sends it to the Beneficiary.

Note: There are cases in which the delivery of the Draft is made by the Beneficiary Bank directly to the Sender.

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Trade Finance

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Product Informative Technical File Import Documentary Credit

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Product Informative Technical File Export Documentary Credit

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DOCUMENT CREDIT

What can include a Document Credit?

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