Letters of Credit
Letter of credit is an international payment instrument.
Types of letter of credit (covered, uncovered, transferable, non-transferable, payable at sight, acceptance)
Letters of credit user:
All legal entities and entrepreneurs registered in Montenegro
Product price is determined on the basis of economic and financial analysis of the company, credit history, turnover on the account with Nova Banka, collateral quality and value.
Bills of exchange and authorization
Authorization of collection right
Pledge on movables
Assignment of receivables
Deposit (Cash collateral)
How to apply for letters of credit?
The SME loan application, along with the necessary documentation, should be submitted to a SME Relationship Manager. Upon the completion of the decision-making process, the SME Relationship Manager will inform the client whether the application has been approved and upon which terms and conditions.