A documentary credit, also known as a letter of credit (L/C), is a written undertaking by a bank on behalf of a buyer / importer to pay the seller an amount of money within a specified time provided the seller presents documents strictly in accordance with the terms laid down in the L/C.
Tose’e Ta’avon Bank, in compliance with the Central Bank of the Islamic Republic of Iran´s FOREX Regulations and By-laws, is prepared to provide letters of credit available by sight or deferred payment. We are also ready to negotiate and advise credits.
Tose’e Ta’avon Bank branches throughout the country are ready to accept applications for issuing letters of credit. All credits are handled according to the latest version of the UCP.