We provide service as an agent in the transfer of payments where a buyer makes advance payment to a seller for goods that will be shipped following receipt of the payment.
We act as an agent in the transfer of payments where a seller ships goods and all necessary shipping documents are sent directly to a buyer who agrees to pay to the seller at a future date.
We perform transactions in documentary collections where a seller ships products and related shipping documents are processed either through the seller’s bank and the buyer’s bank or through the seller and the buyer’s bank. Upon arrival of the documents at the buyer’s bank, the documents are released against payment or a payment undertaking.
By means of our broad network of correspondence, we provide service to buyers and sellers in letter of credit transactions.
A letter of credit is a written undertaking from a bank to pay or incur a deferred payment undertaking to a seller against the delivery of a specified set of documents provided the seller meets precisely-defined conditions and submits the prescribed documents within a fixed timeframe.
We provide our service for the following types of letters of credit:
We act as an agent in acceptance procedures in letter of credit, documentary collections and open account transactions where a seller issues a bill of exchange to be accepted by the buyer and avalised by the buyer’s bank if needed, to provide financing for the seller.
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