Russian Agricultural Bank (RusAg, the Bank) has prepared recommendations on foreign trade contracts for clients engaged in foreign economic activity. Recommendations can be used in transactions with foreign organizations to minimize risks and achieve the most favorable agreements with counterparties.
In addition to the terms and structure of the transaction, RusAg recommendations cover the selection of the most effective delivery basis for a particular contract according to Incoterms® of the International Chamber of Commerce (ICC), information on methods of transporting goods and applying bank guarantees. In addition, the Bank is ready to advise exporters on the specifics of using various forms and settlement instruments, including a documentary letter of credit and documentary collection.
“The Bank has accumulated significant experience in servicing international trade transactions and settlements of participants in foreign economic activity. First of all, I would like to note the uniqueness of our recommendations. All of them are based on the personal experience of RusAg specialists and have been verified, as they say, in practice. The Bank’s task is not just the transaction support – we provide our clients with a correct understanding of all the nuances of the contract before it is concluded with a foreign partner”, Kirill Levin, First Deputy Chairman of the Board at RusAg, said.
The recommendations are available on the official website of the Bank by the following link: https://www.rshb.ru/ved/trade_contract/. RusAg is actively involved in the foreign economic activity of its clients and is ready to provide services for arranging financing and settlements under the contracts of its clients using various instruments, including letters of credit and guarantees.
Since 2019, the Center of competence for servicing foreign trade activities has been operating in Russian Agricultural Bank. Specialists of the Center advise on foreign trade issues at no cost and are ready to help in the individual preparation of a foreign trade contract, taking into account all the parameters of the upcoming transaction.
Since the beginning of this year, RusAg has issued loans to export-oriented agribusiness companies in the amount of RUB 148.4 billion, which is 72% higher than the year before. As of 1 June 2020, the Bank serves over 1,200 export-oriented companies, and the Bank’s loan portfolio of agribusiness exporting organizations has reached RUB 291.3 billion.