Standard Bank's trade finance is tailored to meet the individual needs of your business. We can help even if your company has limited unstructured credit lines, due to reasons such as limited financial resources or sudden spike requirements. That's because our risk evaluation focuses more on your performance track record, existing performance and collateral valuation.
Letter of Credit:
When buying goods from overseas suppliers, you will wish to receive the goods as ordered in the right quantity, on time and at the designated place. You will also wish to make payments only after receipt of the required documents including the title of goods.
We can solve your needs by issuing a documentary credit on your behalf. A documentary credit is our Bank's guarantee of payment for a shipment of goods against specific documents as stipulated on it.
By using a Letter of Credit, we will only make payment after receipt of titles and other documents that should fully comply with the terms of the credit. You can enjoy a safer and cheaper alternative to making advance payment or deposits.
Back-To-Back Letter of Credit:
If you are an intermediary and your supplier wants to sell on documentary credit term only, you may apply for the issuance of a Back-to-Back Letter of Credit from us against the export Letter of Credit.
A Back-to-Back Letter of Credit is issued against the export credit (the master credit), but the terms and conditions may not the same as the export credit. You must submit your own draft and invoice, together with the other shipping documents presented by your supplier to secure payment under the export credit. After processing, you will have the export proceeds to pay your supplier and the balance credited to your account.
Deferred Letter of Credit:
A DC which allows the nomination of a bank, or the issuing bank to effect payment against stipulated documents at a maturity date as specified or determinable from the wording of the credit. With this you are able to receive the goods now and pay later.
Import bills for collection:
By informing your supplier to send their shipping documents to Standard Bank, you will enjoy prompt advice upon our receipt of documents and efficient payment according to your instructions.
To operate your business efficiently, it is vital your goods be cleared expeditiously. By issuing a shipping guarantee in the shipper's favour, Standard Bank facilitates prompt clearance of goods until bills or lading is received.
Standard Bank will be able to provide financing solutions to pay for the supplier's documents under letter of credit or import collections. Open account invoice financing is also available.
If you are in the export business, we can help you with Export L/C advising, L/C Safekeeping, L/C Confirmation, L/C Checking and Negotiation. For financing solutions, tap on to Pre-shipment Export Finance, Export Bills for Collections, Invoice Financing. Outsource your administrative functions to Standard Bank's document preparation service.
Export letter of credit advising:
Benefit from prompt advising of export letter of credit from a wide international network through Standard Bank.
Export letter of credit safekeeping:
Rather than be inconvenienced by having to come to the bank to collect your export letter of credit, Standard Bank will safe keep your original and send you a working copy to facilitate the preparation of documents.
Export letter of credit confirmation:
Exporters may deal not only with unknown foreign buyers, but also with their banks which are less well known institutions and whose letter of credit (LC) may not be sufficient comfort. By requesting Standard Bank to confirm your export LCs, you obtain our guarantee of payment for document presented in compliance with the credit.
Pre-shipment export financing:
We provide pre-shipment finance against irrevocable letters of credit from or purchase orders in a number of currencies to allow you to trade with confidence. If you need to fulfill a sales contract but need funds to purchase raw materials or process goods for export, Standard Bank offers you pre-shipment export financing in a variety of currencies.
Letter of credit checking and negotiation:
Standard Bank's thorough checking standards will reduce the chances that your documents will be rejected. Strict service standards are applied to ensure that your documents are negotiated and dispatched quickly.
Export bills for collection:
Simplify dispatch tracking of payment and reconciliation of your export collections when you choose Standard Bank's documents against acceptance, documents against payment or clean collections. Discounting of export collections is also available.
Export invoice financing:
To tide over any cash flow problems arising from credit terms to the buyers, the exporter may obtain invoice financing pending buyer's payment.
Benefit from lower costs, faster processing and fewer errors - outsource to Standard Bank the paperwork and administrative functions related to your export activities based on your letter of credit or purchase order.