Letter of credit is a reliable way to conduct a transaction when it is important to be sure of payment and fulfillment of terms and conditions.
A risk-free transaction:
- Payment is made only after delivery of goods/services
- The supplier receives payment after completing the terms and conditions of the transaction
Who is a letter of credit suitable for?
- Companies working with new counterparties;
- Companies conducting settlements with foreign partners;
- For large one-time transactions or regular deliveries.
Favorable fee — only 0.2% of the transaction amount (min. KZT 18,000, max. KZT 180,000), including VAT.
Submitting an application in Onlinebank — quick and convenient.
You can submit your application at Halyk outlet. You can also apply for a covered letter of credit via Onlinebank
Minimum package of documents
How to use a covered letter of credit?
In the Onlinebank Home menu, go to the section - “Products and Services”
Next, go to “My Products” - Guarantees/Letters of Credit - choose “Issue a Covered Letter of Credit”
Done!
The application was sent to the bank for approval
Q&A
Letter of credit is a safe method of payment: payment is made only after all terms and conditions of the transaction were completed and confirmed by documents.
Protects both parties of the transaction: the seller is guaranteed payment, and the buyer pays only after delivery of goods/provision of services
Any legal entity or individual entrepreneur who has a settlement account with Halyk.
A covered letter of credit is secured by the customer's own funds.
An uncovered letter of credit is secured by a credit line.
Fee — 0.2% from the letter of credit amount (min. KZT 18,000, max. KZT 180,000), including VAT.
For an uncovered letter of credit, a risk fee is additionally charged – it is set individually.
For covered letters of credit in EUR, an additional fee applies.
You can find more information on the tariffs by following the link.
Up to 1 business day with a complete and correctly assembled package of documents.
The bank will not make payment to the seller.
Under a covered letter of credit, the money from the cover account will be returned to the buyer's account
Letter of credit ensures the safety of the transaction for both parties – the seller receives a guarantee of payment, and the buyer receives assurance that the terms and conditions will be completed.
In KZT or foreign currency, depending on the terms and conditions of the agreement between the buyer and seller.
The period is set by the parties of the transaction (the seller and the buyer) and specified in the agreement.
Revocable — can be changed or canceled without the seller's consent.
Irrevocable — only by mutual consent
Yes. You can issue a covered letter of credit in Onlinebank Halyk — go to the section
“Products and Services → Guarantees/Letters of Credit → Issue a Covered Letter of Credit.”
Submit to Halyk documents confirming the shipment of goods/provision of services specified in the letter of credit.