Foreign trade operations
Turonbank provides its clients with a wide range of services on foreign trade operations. First and foremost, Bank’s specialists will provide you with the professional consultation about the preparation and conclusion of foreign trade contracts aiming to minimize risk exposure on the implemented deals.
Turonbank renders the following types of services on foreign trade operations:
- Opening and handling of the accounts in terms of foreign currency;
- Registration and record keeping of foreign trade contracts;
- Trade finance, including servicing of the export and import Letters of Credit and bank guarantees;
- Conversion operations;
- International transfers.
Documents required for the registration of export contracts:
- application for the registration;
- original contract;
- copy of the contract;
- for the export contracts of the specific goods — copy of the MFERIT license;
- when registering export contracts on the goods exported within the framework of intergovernmental agreements, exporters also submit the copies of the
above-named agreements and other requested documents.
Documents required for the registration of import contracts:
- application for the registration;
- original contract;
- copy of the contract;
- import deal passport (3 copies);
- legal opinion.
The Bank checks and executes documents of the international operations in compliance with the legislation of the RUz and internal regulatory documents of the Bank. Bank’s specialists shall consult and assist you with the preparation of foreign trade contracts and execution of other documents for carrying out foreign currency operations.
| Foreign trade operations | |
|---|---|
| Consideration of application for foreign currency purchases | 10 Soum |
| Registration of export, import and barter contracts: | |
| during one business day: | |
| Export | No commission charged |
| Import, barter | 80 000 Soum |
| During two business days: | |
| Export | No commission charged |
| Import, barter | 40 000 Soum |
| Registration of additional agreements and specifications | Export – free of charge; import, barter - USD 10 |
| Issue of references on the settlements upon export contracts | 200 000 Soum |
| Removal of a non-executed foreign trade contract from the register: | |
| In case of transfer to another bank | 200 000 Soum |
| In case of transfer to the exchange | 200 000 Soum |
| Import Letters of Credit | |
| Opening and advising a letter of credit | 100$ ≤ 0,25 % ≤ 2 000$ (for a full and non-full quarter) |
| Acceptance and checking of the documents | USD 30 per each document |
| Changing terms of the letter of credit (except for extension) | USD 60 per each amendment |
| Extension of the letter of credit | 50$ ≤ 0,2 % ≤ 1 500$ |
| Transfer of the letter of credit to other banks | 50 USD |
| Cancellation of the letter of credit before its expiry | 60 USD |
| Increase of the amount of the letter of credit | 0,2% of the amount increase |
| Confirmation of the letter of credit upon client’s request | LIBOR + 3 % (per annum for a full and non-full quarter) |
| Acceptance of the documents with the divergence in terms and conditions | 50 USD |
| Payments or acceptance of bills of exchange | 50$ ≤ 0,2%≤ 1 500$ |
| Export Letters of Credit | |
| Preliminary advising of export letter of credit | No commission charged |
| Acceptance and advising of export letter of credit | No commission charged |
| Confirmation of the Letter of Credit upon client’s request: | |
| With the provision of 100% coverage | No commission charged |
| Without provision of the coverage | LIBOR + 3 % (per annum for a full and non-full quarter) |
| Acceptance, checking and sending off the documents | 30 USD per each document |
| Payments and negotiation | 50$ ≤ 0.2%≤ 200$ |
| Payments or negotiation, expenses born by the beneficiary | 50$ ≤ 0.2%≤ 200$ |
| Change of terms and conditions of the letter of credit | 50 USD |
| Extension of the letter of credit | 50$ ≤ 0.3% (for a full and non-full quarter) |
| Acceptance and advising of import documentary collection of payments | 50 USD |
| Return of the unpaid or rejected of payment documents | 50 USD |
| Change of the terms and conditions of the collection order or its cancellation | 50 USD |
| Issue of non-chargeable documents (photocopies) | 10 USD |
| Return of the unpaid or rejected of payment documents | 20$ ≤ 0.1%≤ 200$ |
| Repayment of import collection order | 10$ ≤ 0.2%≤ 150$ |
| Postal expenses of the courier’s service | Tariffs of the courier’s service |
| Trade Financing | |
| Opening and prolongation of import letter of credit with the deferred payment | 3% per annum + commission of the correspondent banks |
| Opening and prolongation of import letter of credit with Soum equivalent coverage | 24 % per annum since the moment of payment on the letter of credit |
| Guarantees | |
| Advising or transfer of guarantees without Turonbank’s liabilities | 25 USD |
| Issue and confirmation of the bank guarantee with the foreign currency coverage | 0,1% |
| Issue and confirmation of the bank guarantee with the Soum equivalent coverage | of guarantee amount (for a full or non-full quarter) |
| Issue and confirmation of the bank guarantee without foreign or national currency coverage | 7 % of guarantee amount (for a full or non-full quarter) |
| Change of terms and conditions of the bank guarantee | 60 USD per each amendment + commission of a foreign bank |
| Extension of the guarantee | 3 % ((for a full or non-full quarter) +commission of a foreign bank |
| With the provision of foreign currency coverage | 0,10% |
| Without provision of foreign currency coverage | 3 % (for a full or non-full quarter) +commission of a foreign bank |
| Acceptance and checking of the guarantee documents | USD 30 per each document |
| Payment on guarantee | |
| In case of provision of foreign currency coverage | 0,20% |
| Without provision of foreign currency coverage | 5% |
| Postal expenses of the courier’s service | Tariffs of the courier’s service |
The Bank carries out conversion operations upon client’s request and at the expense of Bank’s own assets. Because of the use of modern information technologies, the Bank takes minimum time to accomplish conversion deals.
Documents needed for the application on foreign currency purchases:
- application for the conversion (2 copies);
- copy of the contract (additional agreements);
- copy of the import deal passport;
- copy of the legal opinion;
- upon the delivery of goods — copy of GTD (state customs declaration) and cards on the imported goods.
| Type of operation | Rate |
|---|---|
| Conversion of the national currency into foreign currency for legal entities | No commission charged |
| Conversion of one foreign currency into other foreign currency for legal entities | 1% |
In case of opening of the letter of credit and implementation of the respective operations, the Bank is guided by the “Unified Rules and Customs for Documentary Letters of Credit” (last edition of 2007, published by the International Chamber of Commerce № 600).
| Other Services | |
|---|---|
| Conversion of Soums into foreign currency | From 0/8% to 2% |
| Issue of references about the balances on the account | 20 000 Soum |
| Responses to the enquiries on import and export contracts | 20 000 Soum |
| Operations with Checks and Valuable Papers | |
| Acceptance and sending checks for collections | 50 USD |
| Entry of check’s amount into correspondent account | 25 USD |
| Transfer of checks arriving from abroad to the clients | 25 USD |
| Cash Operations | |
| Acceptance of cash foreign currency | No commission charged |
| Paying Cash Foreign Currency to Legal Entities: | |
| Earlier deposited with the bank | No commission charged |
| Arriving through transfers | 1% |