Settlement and cash services
For individual customers Novikombank offers settlements in the form of a letter of credit. Letters of credit in roubles can be used by individuals for clearing settlements in the territory of the Russian Federation that are not connected with entrepreneurship under contracts with another individual, including individual entrepreneurs or legal entities. The prime advantage of the letter of credit form of settlements is the participation of the Bank as an independent guarantor in effecting the payment after all conditions agreed in the letter of credit are met by the seller of the transaction.
The purpose of opening the letter of credit is payment for goods, works, services, real estate, securities, and other items according to legislation.
Making settlements under letters of credit, the Bank is guided by regulation of the Central Bank of the Russian Federation dated 1 April 2003 No. 222-R ‘On procedure for clearing settlements of individuals in the Russian Federation’.
The Bank’s employees provide consulting services at all stages of any transaction, including preliminary discussion of payment provisions of the agreement.
