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BANK VTB (ARMENIA) PROVIDES TRADE FINANCING FOR IMPORTS OF MOTHERCARE GOODS TO ARMENIA
/ARKA/
March 4, 2011
YEREVAN
YEREVAN, March 4, /ARKA/. Bank VTB (Armenia) said in a press release
it had provided trade financing for supply of goods for children of
the world famous MotherCare brand.
The Russian-owned bank said it offers a wide spectrum of banking
services for the purpose of integrated servicing of foreign
trade operations of its clients through guarantee operations and
international settlements in the form of documentary credits.
Thus, in 2011 February at the order of its client Prime League Market
Bank VTB Bank (Armenia) issued a banking payment guarantee in favor of
MotherCare UK Ltd. - the supplier of high quality goods for children
and pregnant women. The bank guarantee was issued for the purpose of
securing a new supply of the British company's goods
According to the press release, at the order of its client Bank
VTB (Armenia) provides every type of banking guarantee and Stand-by
letters of credit used widely in international banking practice. Bank
grantees are used as a safeguard against risks and failure to fulfill
the contract terms.
Prime League Market company represents in Armenia the original products
of several famous companies. It runs a chain of stores in downtown
Yerevan and has been granted the franchise right by MotherCare,
Escada, Escada Sport and Spanish Mayoral.
From: A. Papazian
/ARKA/
March 4, 2011
YEREVAN
YEREVAN, March 4, /ARKA/. Bank VTB (Armenia) said in a press release
it had provided trade financing for supply of goods for children of
the world famous MotherCare brand.
The Russian-owned bank said it offers a wide spectrum of banking
services for the purpose of integrated servicing of foreign
trade operations of its clients through guarantee operations and
international settlements in the form of documentary credits.
Thus, in 2011 February at the order of its client Prime League Market
Bank VTB Bank (Armenia) issued a banking payment guarantee in favor of
MotherCare UK Ltd. - the supplier of high quality goods for children
and pregnant women. The bank guarantee was issued for the purpose of
securing a new supply of the British company's goods
According to the press release, at the order of its client Bank
VTB (Armenia) provides every type of banking guarantee and Stand-by
letters of credit used widely in international banking practice. Bank
grantees are used as a safeguard against risks and failure to fulfill
the contract terms.
Prime League Market company represents in Armenia the original products
of several famous companies. It runs a chain of stores in downtown
Yerevan and has been granted the franchise right by MotherCare,
Escada, Escada Sport and Spanish Mayoral.
From: A. Papazian