Draft Acceptance/Endorsement Loans

A payment method in which a draft is issued and drawn by the exporter. The Bank guarantees the payment of the draft amount upon the determined maturity. The amount may be collected before its due date when the exporter discounts the draft and the exporter’s bank endorses it.

Eximbank Loans

A loan extended by the Turkish Eximbank in return of the export commitment and through banks, in order to support exporters and companies who manufacture export-related goods. May it be in Turkish Lira or foreign exchange, the utilization conditions of these short-term export loans are determined by the Turkish Eximbank.

Pre-financing Loans

A loan used to finance export, sales and deliveries (considered as export) as well as the foreign exchange generating activities. A pre-financing loan is obtained by a vendor from its buyer in another country or from international markets and is made available through our Bank.

Import & Export Transactions

Cash against Goods

A method through which the price of goods purchased by the importer is paid after they’re cleared from customs. It does not bear any risk to the importer as the payment is made upon the delivery of goods.

Cash against Documents

The imported goods’ delivery documents are given to the importer through his bank after the payment is collected. As the goods cannot be cleared before the payment is collected, the exporter does not bear any risk.

Advance Payment

The advance payment for goods made by the importer before the goods are consigned.

Letter of Credit

A bank guaranteed payment method issued by the importer’s bank and securing the payment of a certain amount to the exporter, once the predetermined conditions related to the purchased goods and services are met. The importer’s bank assumes the agency role between the importer and the exporter. When the exporter fulfills the conditions, the Bank makes the payment.

Export Letter of Credit Discount

The confirmed or non-confirmed export letters of credit of the export company are discounted. It’s a means of generating cash for the exporter before the L/C maturity. The risk ends when the importer makes the payment.

Import Letter of Credit Discount

A type of loan enabling the import company to make a deferred payment when the exporter demands to collect the payment in cash. With our Bank’s deferred payment L/Cs, a payment is made to the export company before the L/C payment matures when an appropriate document is presented. Thus, the L/C is discounted by the exporter’s bank and the import company is financed.

P/N Discount

The drafts created by the exporter and endorsed by the importer’s bank are discounted by our Bank upon the exporter’s request and the amount is collected prior to its due date.

Country Loans

Odeabank administers the medium to long term loans offered by countries to import companies through their Export Credit Agencies to promote the export of investment products from such countries and boost the development of their importers.

Letter of Guarantees TL/FC

It is a guarantee letter issued by the Bank addressing creditors (official institutions and organizations, other natural or legal persons) in terms of debt payment, goods’ delivery, or the execution of work in favor of a natural or legal person. Such a letter secures work quality, delivery on time and in full. Once the commitment is fulfilled, it is stated that the amount indicated on the letter shall be paid by the Bank providing the letter. Commission is collected for the letters issued in Turkish Lira or foreign currency within the related regulations at rates determined as per the maturity and type of letter.

Foreign Guarantee Letters

External Guarantees

A bank payment liability issued by the Bank and addressing the correspondent person or institution abroad. It includes the fulfillment of a commitment like debt payment, goods’ delivery and work performance. Once the commitment is fulfilled, the amount indicated on the letter is paid to the correspondent by our Bank.

Counter-Guarantees

These are guarantee letters issued to our Bank’s customers upon the order of the beneficiary abroad by taking the counter-guarantee of the beneficiary’s bank as collateral.

Stand-by (Collateral) Letter of Credits

It is a type of letter of credit showing the solvency and creditability of the buyer and may be deemed as a letter of guarantee. In Stand-by LCs, the payment is made without the need to fulfill a particular commitment.

Special Structured Trade Finance Products

Odeabank offers its customers special structured products after analyzing their commercial cycle.​​​