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Safekeeping, registering, monitoring and controlling the applications for subscription or redemption of fund units.
Distribution of fund units, dividends and bond payments. Group distribution services within public offerings.
Global and local custody services
Administration availability of customer accounts to their instructions - financial instruments operations or cash.
Clearing services for transactions made on Bucharest Stock Exchange, Bucharest Clearing House and SIBEX.
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AllNET is an online management of trade finance related products and active cooperation with the bank’s specialists
by push notifications on e-mail for all changes; access to transaction history
by sending online instructions, less trips to the bank and direct contact with trade finance specialists. Real time updates.
used with accounting sistems
without trips to the bank and with real-time consultation of our Trade Finance experts.
browser based access by clicking on a link provided by our trade specialists or direct from BRD@ffice service.
For a better understanding of how the Internet Banking application works, we have prepared a short video tutorial for allNET presentation.
FINTRA represents the L/C discounting, that can bridge the funding gap between buyers and sellers, enabling the importers to maintain their payment commitments at maturity whereas the exporters are paid at sight.
Description & working mechanism:
Two possible options.
Depending on the negotiation terms undertaken between buyers and suppliers, the financing costs can be borne either by the applicant or by the beneficiary:
1. If borne by the beneficiary, the exporter receives the L/C net amount (i.e. after deduction of financing costs).
2. If borne by the applicant, the importer is charged with L/C amount plus financing costs incurred on due date.
The stand-by letter of credit is a bank guarantee issued in the form of a letter of credit, to guarantee the performance of a contractual obligation. The issuing bank undertakes to indemnify the beneficiary for any failure of the ordering party of meeting its obligations under the contract.
If you are an importer, the money retention stand-by letter of credit ensures that the down payment is returned by the exporter in case of failure under the contractual obligations.
If you are an exporter, the payment stand-by letter of credit guarantees the payment of the equivalent value of the delivered merchandise / services, if the importer does not pay.
How does the stand-by letter of credit work?
Step 1. The partners agree by contract on the terms of the operations and establish as means of payment the stand-by letter of credit.
Step 2. At the request of the ordering party, its bank (the issuing bank) opens the documentary letter of credit to the benefit its commercial partner (beneficiary), according to the conditions of the contract signed with the latter The issuing bank sends the text of the stand-by letter of credit to the correspondent bank in the exporter’s country (the bank of the beneficiary).
Step 3. The correspondent bank notifies the beneficiary on the opening, to its benefit, of a stand-by letter of credit.
Step 4. If the ordering party does not meet its contractual obligations, the beneficiary presents to the correspondent bank all the documents stipulated upon the opening of the stand-by letter of credit and demands that payment be made. After checking the documents, the correspondent bank sends them to the issuing bank for payment. The issuing bank makes the payment and debits the account of the ordering party.
The letters of credit provided by the bank are:
If the company operates in the field of export or import, contracting a documentary credit helps improving the commercial relations with the foreign partners.
For importers, BRD will ensure: the receipt of merchandise and/or the delivery of services according to the documents required under the documentary credit.
For exporters, BRD will guarantee: the collection of the equivalent value of the delivered merchandise and/or services according to the documents required under the documentary credit.
How does the documentary credit work?
Step 1. The buyer (importer) and the seller (exporter) perform the commercial operation by agreeing in the contract on the terms of the operation and by establishing as means of payment the documentary credit.
Step 2. At the request of the importer (ordering party), its bank (the issuing bank) opens the documentary credit in the favor of the exporter (beneficiary), according to the conditions of the commercial contract. The issuing bank sends the text of the documentary credit to the correspondent bank in the exporter’s country (the bank of the beneficiary).
Step 3. The correspondent bank endorses the opening of the documentary credit for the exporter.
Step 4. The exporter sends the merchandise to the importer and presents to its bank all the delivery documents specified in the documentary credit.
Step 5. The correspondent bank checks the documents and makes the payment (if it is a paying or confirming bank) or sends the payment documents to the issuing bank.
Step 6. The correspondent bank sends the documents to the issuing bank.
Step 7. The issuing bank checks the documents and makes the payment (or repays the paying bank) and delivers the documents to the importer against payment.
Step 8. The importer, based on the documents received from the bank, gets the customs clearance and accepts the merchandise.
What is the documentary credit?
The documentary credit is a payment commitment against documents, undertaken by the bank, for the proper development of the company’s relation with third parties. The parties involved in the ongoing execution of a documentary credit are: the ordering party, the issuing bank, the beneficiary’s bank and the beneficiary.
Types of documentary credit
Types of payment under a documentary credit
You can choose from the following types of payment, depending on the contractual provisions between the company and the commercial correspondent: at sight, at term, by acceptance or by negotiation.
The guarantee letters issued by BRD are a proof of reliability for your business partners abroad.
The international letters of guarantee are the ideal solution for your business if the company participates in an international call for tenders or a foreign partner requests a performance bond.
The bank provides the following types of guarantees:
How are the letters issued?
These guarantee letters are issued individually or under guarantee ceilings, if the requests for guarantee are multiple and recurrent.
Letters can be issued electronically or through the SWIFT channel, in lei or in foreign currency. The validity of a guarantee is correlated with the contractual provisions concluded between the company and the partner.
The guarantees requested when issuing letters of bank guarantee can be deposits, mortgages on movable and immovable property, guarantees issued by guarantee funds, etc.
Yes, depending on the specificity of the company's business, we can issue bank guarantee letters individually or under ceilings.
Yes, you may find below the list of correspondent banks, as well as certain documents that are useful for the company’s international relationships.
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We would like to remind you that BRD - Groupe Societe Generale has not requested and will never ask any of your authentication data (user code, password or password token) or confidential information related to your card (card number, expiration date, security code or PIN) by phone, nor e-mail or SMS.
These confidential data will be used only for the internet banking authentication or for online payments.
At the same time, if you notice a different appearance of the usual MyBRD Net application (ex. A notification message that the page is unavailable and you are invited to log in again, or to sync your token device), please stop the authentication process immediately and contact as soon as possible through MyBRD Contact tel: 021 302 6161.
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