5 Great Features of This Service
- It’s self-liquidating
- Off balance sheet lending is carried out
- It’s efficient for bulk importation (e.g. oil, commodities etc.)
- Monitoring/control of commodity is taken care of by the collateral manager.
- Interest rates on disbursement of funds are charged flexibly.
*Our terms for all the products are very flexible and are at very competitive rates.
Why you should sign up for this product
Equity Bank Trade Finance places the whole globe in your hands by availing trade finance products and instruments that facilitate movement of goods and services from one point to another both locally and internationally.
Additionally, why you should sign up for this product
Under this facility we have the following off-the-shelf products:
Bank Guarantees
This includes all types of bank guarantees, both local and international. e.g. Bid Bonds/Tender Bonds, Performance Guarantees, Advance Payment Guarantees, Retention Bonds, Customs/Transit Bonds, Payment Guarantees and Immigration Bonds.
LPO Financing
We offer financing to our clients who have orders to provide goods or services but are limited by their cashflow.
Invoice Discounting
We discount invoices that have extended maturity dates to enable our clients to ease their cash flow constraints.
Letters of Credit
We offer Letters of Credit thus undertaking to pay exporters/sellers on behalf of our clients (importers/buyers) provided that the stipulated terms and conditions are complied with.
Pre-shipment Financing
We provide bridging finance to exporters against an export LC or confirmed order to enable them to meet the initial costs of raw materials, production, transport and logistics.
Post-import Financing
We accommodate our clients’ post import financial needs by offsetting their import payment obligations that are still due, pending the receipt of proceeds from the sale of the imports.
Foreign Demand Drafts
This service facilitates payments for clients who require a guarantee for making payments abroad. It’s issued in USD, GBP and EUR, with preferential rates available for amounts above USD/GBP/EUR 1,000.
Commodity Finance
In this service the commodity of trade is held as collateral and is only released to off-takers after they deposit funds into an escrow/collecting account and the bank provides a green light.
