When buying a new building from one of our partners, check for payment via a documentary letter of credit. It allows you to take out a housing loan when you sign the purchase agreement and ensures greater security, as the funds will be transferred to the contractor when the conditions written in the letter of credit are met (completed work).
Purpose: when renting a loan from project financing. | |
The loan is approved upon signing the sales contract, loan assets are transferred to the cover account for the opening of the letter of credit. | |
The letter of credit is drawn up when the contractor/seller of the property proves with documentation that he has fulfilled the letter of credit conditions. | |
Safe business for the borrower and contractor. |