VTB Bank (Armenia) provides financing to United Travel company as part of documentary operations

02.04.2021 18:40
VTB Bank (Armenia) provides financing to United Travel company as part of documentary operations

YEREVAN, April 2. /ARKA/. VTB Bank (Armenia) provided financing to the United Travel LLC within the framework of documentary operations, the press service of the bank reported.

It said the guarantees it has provided to the company act as a financial security for the fulfillment of United Travel's payment obligations to air carriers and ensuring continuous partnership with the company's counterparties.

VTB Bank (Armenia) and the United Travel LLC have been effectively cooperating since 2015 in the framework of settlement and cash and credit and documentary operations.

United Travel Company is a travel agency that provides its clients with a wide range of travel and information services in different areas: international tourism and recreation, tours and excursions, visa processing, booking tickets and hotels and transfers.

Since 1996 the company has been dealing with the sale of air tickets and retail sales of tours. It has concluded agency agreements with major tour operators, such as PJSC Aeroflot-Russian Airlines, Qatar Airways, Siberia Airlines, AZIMUT, Nordwind Airlines, Ukraine International Airlines, Belaviaservice, Austrian Airlines, Air Arabia, Air France and Fly Express.

The financing will allow the company to effectively use the funds, make payments for the tickets sold with a certain delay and ensure the continuity of the sales flow.

Lending to and servicing medium-sized businesses is one of the priority areas of VTB Bank (Armenia). The bank provides a comprehensive package of services to corporate clients, applying an individual approach of financing to each, based on the specifics and the type of their business activity.

A bank guarantee is the most effective instrument for financing travel agencies / tour operators, ensuring the fulfillment of payment and contractual obligations.

The main advantages of this financial instrument are cost savings (cheaper than using credit funds) and reduced risks associated with transactions. The bank guarantee acts as additional evidence of the financial stability of the company, its ability to fulfill its obligations under the contract.

More detailed information on bank guarantees can be obtained on the official website of VTB Bank (Armenia) at https://www.vtb.am/ru/financial/financial-tools, at its  branches or by calling the Contact Center at 87-87.

The bank is controlled by the Central Bank of Armenia. - 0--

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