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Splitska banka OTP Group

The instruments that we offer within documentary business refer primarily to security and collection of receivables, i.e. to the settlement of payment obligations:

  • Guarantees - unconditional, irrevocable and payable at first written demand of guarantee beneficiary
  • Letters of credit - irrevocable, L/C operations carried out according to the accepted international standards and practice
  • Documentary collections - payment security instrument where documents are issued after execution of payment (D/P – documents against payments) or after bill of exchange acceptance (D/A – documents against acceptance)

Guarantees

Guarantee is the most used payment security instrument in domestic and international payments which guarantees the payment and fulfillment of contractual commitments.

We provide you with the following types of guarantees:

  • Tender guarantees
  • Payment guarantees
  • Customs guarantees
  • Advance payment guarantees
  • Performance bonds
  • Guarantees for warranty obligations

In addition to the above mentioned guarantees, where Splitska banka d.d. acts as guarantor bank, the offer also includes services of guarantee confirmation.

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Letters of credit

L/C (letter of credit) is the most reliable payment security instrument in the international operations, where the Principal of the L/C makes available to the Beneficiary a defined amount of funds, provided that the Beneficiary has presented documents conditioned by L /C which are issued according to the terms and conditions of the respective L/C.

The offer of L/C includes:

  • Import L/C with option of deposit of coverage and postponement of deposit of coverage
  • Export L/C
  • Stand-by L/C

We provide our clients with service of counseling assistance related to the interpretation of L/C terms and conditions, international business practice and issuance of documents conditioned by the L/C.
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Documentary collection

Documentary collection or collection of documents is payment security instrument in the international operations where the bank of the Seller sends commercial documents to the buyer, the delivery of which is conditioned as follows:

  • D/P – documents against payment or CAD – Cash against documents – documents are issued to the Buyer after orderly made payment
  • D/A – documents against acceptance – documents are issued to the Buyer after bill of exchange acceptance