Banking and Financing

In order to do business, economic actors in any country have to have many and varied connections with banks. Banks enter into two-way interaction with customers under different contract titles, and on the other hand, they provide financial services such as bank guarantees and documentary credits to economic actors. If you need to regulate your economic relations with banks and financial institutions, or you need specialized advice in banking lawsuits, our partners are by your side with full expertise and mastery of banking rights and they will provide you with the necessary advice in the field of banking and financial rights.
The specialized services of the ESK Law Firm office include several general categories, which briefly described below.

1. Legal Challenges in Obtaining Economic Facilities

One of the most important methods of financing projects is through getting loans from banks and financial institutions. In terms of receiving bank facilities and loans, individuals are subject to the laws governing the country and for this reason, familiarity with the legal issues surrounding the conclusion of bank contracts is very important. Calculation of the profit, how to execute the contracts, and other points related to the allocation of credit are important issues that make it necessary for individuals to seek banking and financial legal advice. ESK’s lawyers are ready to support you in the realization of your rights.

2. Banking Operations

Banking operations laws of Iran have ambiguities and complexities in a way that defining and explaining the legal relations and applicability of these laws require mastery of banking issues and familiarity with all legal regulations.
ESK office has experienced staff consisting of legal and banking consultants who can be your companion and advisor in banking operations.

3. Opening Documentary Credit (ODC)

The Banks’ activity in the field of opening letters of credit is subject to some international regulations. Banks are obliged to follow specific formats and frameworks that have been determined in UCP, to allocate credit for the benefit of foreign sellers and make it easier to pay in international transactions. This regulation has been compiled by ICC and it is a practical basis for the operation of all banks around the world.

In Iran, Opening Documentary Credit (ODC) is governed by the currency regulations of Iran and the regulations of the central bank in the country. It can also be regulated by the parties to a contract as far as the parties’ agreement is not contrary to the mandatory rules.

ESK Law Firm is ready to provide legal services to the bank customers, from the credit opening moment until the exchange of documents and payment.

4.Issuance of Bank GuaranteeBank Guarantee which is an

  instrument to guarantee contracts’ performance is  governed by Iran Business Law. There are some legal challenges in the process of issuance of bank guarantees, Legal consequences, and the relationship between  the parties in Iran. On the other hand, issuance of a bank guarantee in the international arena is subject to the ICC rules that set out clear rules with no significant challenge.ESK Law Firm is ready to help you with  reaching your  goals, by providing professional advice to resolve legal problems.