TO THE ORDER OF BANK OF IRAN

Business Nature: Financial Institution (Bank)

Company Overview:

TO THE ORDER OF BANK OF IRAN refers to a banking entity acting as a financial intermediary or a consignee in international trade transactions. It is not a manufacturing factory nor a commercial trading company. Its primary role is to provide financial services, manage letters of credit, process international payments, and ensure the security of trade transactions between exporters and importers. It serves as a regulatory and financial facilitator for businesses operating within or trading with Iran.

Classification: Financial Institution (Not a factory or a trading company)

The phrase TO THE ORDER OF BANK OF IRAN is not the name of a company, but rather a standard legal term used in international trade documents, specifically in Letters of Credit and Bills of Lading.

It indicates that the ownership of goods is consigned to the Bank of Iran, which acts as the intermediary or security holder for the transaction. It does not signify that the bank itself manufactures or sells commercial products.

The bank provides financial services rather than physical goods. Its primary roles include:

1. Issuing letters of credit for importers.

2. Handling international trade settlements and payments.

3. Providing banking and financial guarantees.

4. Managing foreign exchange operations.

5. Facilitating cross-border monetary transactions.