No facilities are required,Īnd funds will typically be advanced to you within 24 hours. The date on which the bill of exchange is drawn. We may negotiate clean documents and pay theĭiscounted value of the invoice concerned. Manufacturing advances aimed at easing your cash flow while you prepare toĬomplete your shipment orders. Post-shipment finance We can offer facilities such as packing credits or Documents can then be sent to the issuing bank for approval and payment.
It may also be possible to cable the DC issuing bank for authorisation to negotiate, despite the listed discrepancies.
If documents are found to have discrepancies it may be possible to negotiate under reserve or against an indemnity. The exporter’s company name must be exactly as it appears in the letter of credit. The exporter (beneficiary of the letter of credit) is the drawer of the draft. The actual business you do, taking into account your unique requirements atĭifferent stages of your trade cycle. Our range of export financing options can help toĪccommodate any funding gaps in your trade cycle. The parties specified on the draft or Bill of Exchange are: 1. This sale makes Seller (X) a ‘Creditor’ and Buyer (Y) the ‘Debtor’ who has to pay the Seller (X) back in 90 days. Because we take time to understand yourīusiness, you can rest assured that your facilities will be structured around The following example illustrates the basics of a ‘Bill of Exchange’ (B/E): Let us assume that Seller (X) sells goods to a Buyer (Y) on credit terms of 90 days. Commercial Bank provides export finance solutions to
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