Imports

We provide wide-ranging solutions to the trade needs of our clients whilst mitigating the risks inherent in international trade transactions. Our correspondent relationship spans across West Africa, Europe and America. We provide various financing and payment solutions for the convenient importation of goods.

Letter of Credit

Take your international business transactions to the next level by offering a higher level of assurance to your customers via a Letter of Credit.

We minimize uncertainties and risks for both parties by issuing a Letter of Credit at your request, ensuring the collection of receivables and the timely delivery of goods or services. We offer various types of Letter of credit requests including Cash backed LC, Unconfirmed LC, Confirmed LC, Back to Back LC, Standby Letter of Credit, Transferrable LC.

LC Establishment Requirement

  • Proforma Invoice
  • Regulatory Certificate / Import Permit
  • Marine Insurance covering 110% of the invoice value
  • Duly registered Form M by the NCS
  • Letter of Credit Application

Documentary Collections (Bills for Collection)

Trading across the border can be so much easier with Bills for Collections. For businesses exporting goods from Nigeria, a Bill for Collection is a safe means for ensuring payment from foreign customers. A Bill for Collection is an easier and faster mode of payment for trade between importers and their supplier.

We act as an intermediary between the seller and the buyer to collect the value of the documents, by handling the Bills for Collection documents based on the seller’s instructions. Our system offers full proof assurance of payment ahead of final delivery of exported goods.

The requirement for Bills for Collection Processing

  • Proforma Invoice
  • Regulatory Certificate / Import Permit
  • Marine Insurance covering 110% of the invoice value
  • Duly registered Form M by the NCS

Shipping Documents Handling and Endorsement

Upon receipt, shipping documents are properly and thoroughly reviewed to ensure they are compliant with the transaction terms and conditions. It is important to note that in line with regulations with shipping documents should not predate the LC issuance date or Form M registration date (Bills for collection).

The requirement for Endorsement and Release of Documents

  • Compliant Shipping Documents
  • Transport Documents
  • Commercial Invoice
  • Packing List
  • Certificate of Origin
  • Manufacturer’s Certificate/Certificate of Analysis
  • Payment of import duty

Import Financing

We offer customized financing solutions to importers to enable them procure raw materials, equipment, machinery and other consumables from international traders. 

Standby Letters of Credit

Seeking to facilitate international trade with foreign entities? This document guarantees our commitment to pay any seller in the event that you, our client, defaults on an agreement. We ensure all your transactions are hassle-free. Our trade finance experts will provide you with the needed guidance.

The requirement for Standby Letter of Credit

  • Request Letter
  • Collateral
  • Contract letter/Agreement between both parties

Why We Should be Chosen

a. Pricing Excellence –We create an efficient pricing structure that ensures that our clients achieve maximum benefits from our products and services

b. Resource Efficiency – We maximize our resources to the benefit of our clients. Our people, products and networks are at your disposal at all times.

c. Product Platforms – We will adopt the most up to date technological platforms. Our technology architecture is robust and will meet all your needs in a cost-effective manner.

d. International Partnerships – We leverage our networks for best-in-class solutions to your banking needs across geographies.

e. Service Automation – We ensure that through the automation and digitization of our product offerings, we provide clients with a seamless customer experience.

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