OFB Mobile App

International economic activity

According to Contract No. UZ-10-11 dated March 29, 2011, concluded between PJSCB Orient Finans and Alliance Factors Service LLC (Moscow, Russia), installation and configuration of the SWIFT Alliance Entry system were completed on April 4, 2011.
SWIFT Code: ORFBUZ22

Full list of services rendered by Orient Finans PJSCB to legal entities (corporate clients) in foreign currency

Opening and maintenance of accounts in foreign currency

  • Transfers of foreign currency within the Republic.
  • Transfers of foreign currency outside the Republic of Uzbekistan.
  • Transactions with cash currency.
  • Conversion operations.

Operations related to the conduct of foreign trade activities

  • Maintenance and deregistration of export and import contracts.
  • Conversion (purchase / sale) of foreign currency.
  • Swap operations.
  • SPOT operation.
  • Consultations on the E-Contract.

Documentary operations

  • Transactions with documentary letters of credit in foreign currency.
  • The provision of bank guarantees and guarantees.

Documentary letter of credit

Documentary letters of credit are among the most reliable settlement methods in international trade, providing security for both importers and exporters.

A documentary letter of credit is a commitment by the issuing bank, made on behalf of the buyer, to pay the seller a specified amount upon presentation of documents stipulated in the letter of credit.

The bank issues a letter of credit based on the buyer’s (importer’s) instructions, prepared in accordance with the terms of the contract.
Both the importer and the exporter should note that a letter of credit is a separate transaction from the sales contract or any related agreement.
The bank’s obligations are strictly defined within the text of the letter of credit.

Mechanism of a Documentary Letter of Credit

  1. The exporter and importer conclude a sales contract.

  2. The importer applies to the issuing bank for a letter of credit.

  3. The issuing bank opens the letter of credit through the advising bank, which notifies the exporter.

  4. The exporter ships the goods to the importer and submits the required documents to the advising bank.

  5. The advising bank forwards the documents to the issuing bank.

  6. The issuing bank makes payment to the advising bank, which then pays the exporter.

  7. The issuing bank provides the documents to the importer (the buyer).