Conditions

    Documentary Operations

  • Terms

Documentary LC

LC notification

0.15%, min AMD 25,000

LC issue

0,15%, min AMD 40,000

Conformation of LC by other Bank, issued by ARMECONOMBANK OJSC

According to the tariff of confirming banks

Confirmation of LC by ARMECONOMBANK OJSC, issued by other Banks

Contractual

LC transfer

0,1%, min AMD 25,000

LC terms amendment

AMD  15,000

LC cancellation

AMD 25,000

Examination and acceptance of LC documents without discrepancies

AMD  25,000

Examination  and acceptance of LC documents with discrepancies

AMD 50,000

LC payments according to documents presentation

0,15%, min AMD  10,000 , max AMD  50,000

LC issue under EBRD, IFC and ADB programs

AMD 50,000

LC terms amendment, cancellation within EBRD, IFC and ADB  programs (the commission fees to be charged by the correspondent banks shall be additionally  charged)

AMD  25,000

Provision of Bank guarantee in RA

Under monetary fund's collateral

Up to AMD 5,000,000

0.5%monthly

In case of exceeding AMD 5,000,001 2 

25,000 ՀՀ դրամ ամսական

Under other funds collateral

1%monthly 

Minimum commission fee for the whole period of guarantee operation

AMD 20,000

Bank account notification provided via a paper carrier to the other banks through S.W.I.F.T system

AMD  25,000

Guarantee terms amendment

AMD  25,000

International guarantee

Under  funds collateral

0,3% min AMD 30.000 , max  AMD 400,000 

Guarantee notification

0.15%, min AMD 25,000

Guarantee terms amendment, cancellation

AMD 35,000

Guarantee payment according to the requirement of confirming bank

0,5% , min AMD 50,000

EBRD, IFC and ADB guarantee issue

0,3% min. AMD 50,000, max. AMD 400,000

Guarantee terms amendment, cancellation within EBRD, IFC and ADB programs (the commission fees to be charged by the correspondent banks shall be additionally  charged)

AMD 35,000

Bank account notification provided via a paper carrier to the other banks through S.W.I.F.T system

AMD 25,000

 Documentary collection

Documents against payment or acceptance

0,2%, min AMD 25,000, max AMD 60,000 

Accepting and sending of documentary collection

0,2%, min AMD 25,000, max AMD 150,000 

Collection instruction terms amendment, including cancellation

AMD 15,000

Collection payment

0.2%, min AMD 11,000, max AMD 50,000 

 

1.         Additionally, commission fees and postal expenses to be charged by the correspondent banks may be charged.

2.         In case where the guarantee exceeds AMD 5,000,000 (or equivalent currency), the formula of commission fee calculation (in the sample the guarantee is extended for 101 days) is: AMD 25,000*12/365*101 = AMD 83,013.6. 

Demands

Opening and maintenance of corresponded accounts

Being one of the active banks operating in the field of free and limitedly convertible foreign currency transfers, ARMECONOMBANK OJSC has established correspondent relations with the banks operating in different countries of the world to meet its customers’ Payment and Settlement requirements, to reduce the time of commercial transfers and to improve the quality of transfers.

When opening a correspondent account with a bank the following indicators of the given Bank are thoroughly examined:

  • Financial stability of the Bank’s registration country;
  • Economic and political stability of the Bank’s registration country;
  • Bank’s financial stability;
  • Bank’s high international reputation;
  • Membership to internationally recognised clearing systems
  • Availability of correspondent accounts’ wide network
  • Availability of a branch network in different countries
  • Fast and secure implementation of transfers
  • Relatively lower commission fees charged against the correspondent accounts
  • ARMECONOMBANK OJSC does not open correspondent accounts with the banks operating in the countries involved in the list of ‘’countries and territories which do not have legislation on combating the legalization of proceeds from crime and financing of terrorism’’ published by the CBA.
  • The Bank’s rating granted by internationally recognised rating organisations (Moody's Investors Service, Standard & Poor's, Fitch Ratings).

We hereby present you ARMECONOMBANK OJSC’s correspondent accounts in the Republic of Armenia and different countries abroad.

ARMECONOMBANK OJSC’s correspondent accounts at the RA and foreign banks (NOSTRO)

) RA and foreign banks’ correspondent accounts at ARMECONOMBANK OJSC (LORO)

General Information
 General Information Documentary Letters of Credit 
 General Information [header]Documentary Letters of Credit [/header] [-SEPARATOR-] ARMECONOMBANK OJSC offers a wide range of services in the sphere of documentary operations:
PunctFree consultative services in all the phases of implementation of documentary operations,
PunctIssue of documentary LC with cash cover,
PunctIssue of confirmed documentary LC with partial or no cover,
PunctIssue of non- standard documentary LC (Red line, deferred payment),
PunctConfirmation of Documentary LC by leading foreign banks.
[-SEPARATOR-] Bank Guarantees ARMECONOMBANK OJSC offers a wide range of services in sphere of documentary operations:  
PunctProvision of advance payment guarantee,
PunctExport finance secured by bank guarantee,
PunctTender guarantees (guarantee to participate in tender),
PunctPerformance bonds,
PunctPayment guarantees (Stand By LC),
PunctIssue of guarantees by leading foreign banks based on ARMECONOMBANK counter-guarantee.
[-SEPARATOR-]   Documentary Collection ARMECONOMBANK offers its customers to benefit from documentary collection service. Documentary collection is a settlement instrument, by which the buyer (Importer) obtains a property right on goods against payment or acceptance of draft issued in the name of the buyer (Importer), within the term stipulated in the letter enclosed to delivery documents.
 General Information [header]Documentary Letters of Credit [/header] [-SEPARATOR-] ARMECONOMBANK OJSC offers a wide range of services in the sphere of documentary operations:
PunctFree consultative services in all the phases of implementation of documentary operations,
PunctIssue of documentary LC with cash cover,
PunctIssue of confirmed documentary LC with partial or no cover,
PunctIssue of non- standard documentary LC (Red line, deferred payment),
PunctConfirmation of Documentary LC by leading foreign banks.
[-SEPARATOR-] Bank Guarantees ARMECONOMBANK OJSC offers a wide range of services in sphere of documentary operations:  
PunctProvision of advance payment guarantee,
PunctExport finance secured by bank guarantee,
PunctTender guarantees (guarantee to participate in tender),
PunctPerformance bonds,
PunctPayment guarantees (Stand By LC),
PunctIssue of guarantees by leading foreign banks based on ARMECONOMBANK counter-guarantee.
[-SEPARATOR-]   Documentary Collection ARMECONOMBANK offers its customers to benefit from documentary collection service. Documentary collection is a settlement instrument, by which the buyer (Importer) obtains a property right on goods against payment or acceptance of draft issued in the name of the buyer (Importer), within the term stipulated in the letter enclosed to delivery documents.
Updated: 02/08/2018 12:43