Whether your aim is to streamline payment, protect your operations or form smooth supplier relations, Cargills Bank Limited can help you trade across borders. Having the right type of financing in place, with the right financial provider, plays a big part in international business success.
In practice, trade events involve a variety of activities, such as buying, selling, sourcing materials, manufacturing and distribution. Our Trade Team work with importers and exporters to provide a range of trade finance services to maximize the financial benefits of your global commerce securely.
Documentary Letters of Credit allow importers and exporters to deal in confidence with one another, secure in the knowledge that payment will be made if the transaction is carried out in accordance with the terms of the Letter of Credit. Crucially, Letters of Credit provide even greater risk protection by carrying the undertaking of the issuing bank thereby eliminating risk for you.
As an exporter, you can ask your overseas customer to open a documentary credit, which guarantees payment provided you comply with the required documents.
As an importer, your overseas supplier may require you to open an import Letter of Credit. We can set that up and guarantee payment to the overseas supplier, provided the correct documents are submitted.
We can help you simplify the way in which you make and receive payments with trusted trading partners. Using import and export documentary collection is a straightforward and cost-effective way to make international trade payments.
If as an exporter you’re comfortable dealing with your overseas customer without bank payment guarantees, you can still benefit from an increased level of security. You can do this by using documentary collections together with bills of exchange, where goods are only released to the overseas customer on payment or acceptance to pay the bill of exchange at a later date.
As an importer, your overseas suppliers may ask you to pay or accept bills of exchange on a similar basis and we can advise you on how best to protect your position.
In case the goods you import arrive before the transport documents, we could issue you a shipping guarantee / delivery order to facilitate taking delivery of your goods and avoid additional storage and demurrage charges.
We can address funding gaps in your trade cycle and support your business, by providing you import financing options to meet your immediate payment obligations as an importer by bridging the gap between making payment to your suppliers and receiving payment from your buyers
Whether you bank with us or not, we will advise your Documentary credits (DC) enabling you to start arranging your shipment quickly.
Our Export Financing is tailor-made to support your export requirements with unique features such as export document checking by Trade Specialist and receiving export financing at very competitive interest rates.
To protect your business against loss in uncertain market conditions, we can help you arrange the most widely used forms of guarantees and bonds. This can help you secure major contracts. Bonds and guarantees support your ability to perform under a contract or meet payment obligations. They may also be used to underpin any bid to win new business. As every commercial event is unique, we will work with you to design a suite of guarantee solutions geared to your underlying business flows.
Cargills Bank Limited has the right expertise and services to help you improve your earnings and utilize opportunities in the global market.