Trade finance & supply chain
Import services
Our import payment solutions are designed to help you have the best working relationship with your overseas suppliers. You receive your goods and your supplier gets paid.
When making payments to your overseas supplier, you have a number of options. To choose the right option, you need to consider issues like the type and size of the transaction, how well you know your supplier, how much risk you’re willing to assume and how much risk your supplier will take on.
IMPORT Documentary Letter of Credit
It allows you to specify the payment terms and conditions, documentation to accompany the shipment and deadlines for shipment.
This is a conditional undertaking by Commerce finance to pay your supplier provided they meet the terms and conditions of the Documentary Letter of Credit. It gives the supplier the assurance that they will receive payment and you are able to receive goods securely from international suppliers.
You specify documentation to accompany each shipment. You nominate the deadlines for shipment issued on a 'sight' or 'term' basis: sight means that drafts are drawn for immediate payment, term means that drafts are drawn on a term payment basis - e.g. 30 days after sight, 90 days from bill of lading.
We receive the documents from the seller's bank and check to ensure they comply with the terms and conditions of the credit. The documents will then be released to you for payment of goods. Internationally accepted rules apply as determined by the International Chamber of Commerce (ICC).
Import Documentary Collection
As you and your trading partners develop a relationship of trust, an Import Documentary Collection may be appropriate. It is a facility for the collection of bills of exchange, documents and payment, or an agreement to pay the supplier at a future date. The difference is that the supplier has no guarantee of payment.
How does it work? We monitor the complete documentary collection process providing you with the security of knowing the goods have been shipped by the seller. When we receive the documents, we’ll get in touch with you straight away.
The Import Documentary Collection is issued on a 'sight' or 'term' basis:
- sight means that drafts are drawn for immediate payment - term means that drafts need to be accepted at the time of release of documents and are due for payment at a future date e.g. 30 days after sight, 90 days from bill of lading date
Export services
Manage your trading risk by choosing from our range of customer payment options and get flexible trade finance to fund the deal.When deciding on how and when to receive payments from your customers, you’ll need to consider:
the type and size of the transaction; how well you know your customer; how much bargaining power you’ll have (tied to the demand of your product); which types of payment risk you’ll be exposed to; how much risk you’re willing to assume; how much risk your customer will take on.With our Commerce Finance you can finance the production or purchase of goods for export before you receive payment and have flexibility with the amount and term of finance (up to 180 days) based on your business requirements.
Export Documentary Letter of Credit
An Export Documentary Letter of Credit provides a conditional undertaking by the buyer's bank to guarantee payment provided all the relevant terms and conditions of the Documentary Letter of Credit are met. It can also help protect you from buyer risk. What we will do is check that the terms and conditions of the documentary letter of credit have been complied with before forwarding documents to the buyer's bank.
How does it work?
The Export Documentary Letter of Credit is issued as "irrevocable", which means it cannot be amended or cancelled without agreement from all parties to the Letter of Credit. Upon receipt of documents from you, we will check that the terms and conditions of the documentary credit have been complied with, before forwarding documents to the buyer's bank. This involves the presentation of specific documents as called for under the documentary credit and may include commercial invoices, bill of lading, certificate of origin etc.
The documentary credit is issued on a 'sight' or 'term' basis: sight means that drafts are drawn for immediate payment, term means that drafts are drawn on a term payment basis - e.g. 30 days after sight, 90 days from bill of lading as agreed between the buyer and yourself.
Trade finance
With our trade finance you can fund your international trade transactions through fixed rate and fixed term loans. We can offer trade finance for your business in most major currencies.
Flexibility,Extended term options
You decide the amount and term of finance based on your business requirements. You can control which international transactions or group of transactions you wish to finance, including the currency used and the period of finance, up to a maximum of 180 days.
You can extend the finance term up to 180 days from date of shipment or beginning of the export pre-shipment period. The minimum term is 15 days.
Some of our features
We're Flexible
If you can afford the repayments, and meet our lending criteria,we’ll help. So if you’ve been turned down by others its worth giving us a call
We're Quick
You can get your finance quickly. It’s very simple - We listen. We decide. You get the money. It usually all happens within 24 hours too
We're Competitive
Rates are very competitive. And we build the cash loan around what you can afford. Because our loans are designed to ease your financial stress, not make it worse
We’re a real business
Our experienced staff will deliver a fast and friendly service to help you get the money you need when you need it. We are a Registered Financial Services Provider