|
Import
Letters of Credit Services
- Import
Letters of Credit
are designed to facilitate trade-enhancing rels
with your supplier through efficient document processing
and timely payment, while still protecting your rights.
Exporters as a trading condition frequently stipulate Letters
of Credit. Citibank opens, advises, amends and pays Letters
of credit on behalf of thousands of importing companies
worldwide, enabling commercial trading transactions to proceed
swiftly and efficiently.
- Advantages
- Simplified
Credit Margin structure, Citibank can provide a margin-based
structure for issuance of you sight L/Cs and Usuance
L/Cs, with balance paid on release of documents.
Documentary
Import Collections
- Documentary
import collections are payment mechanisms, which are
less expensive than letters of credit, but provide more
security to the supplier than an open account transactions.
Import Documentary Collections simplifies the administration
of commercial trading transactions, safeguarding your title
to goods and boosting trading rels by reassuring
your counterparty of due payment.
- How
the Product Works
-
Under a documentary collection, the shipping documents
are sent to Citibank rather that directly to you, the
importer. Citibank acts as the collecting bank, accepting
the title documents from the exporter's remitting bank
and delivering them to the importer upon payment (sight
collections) or a promise to pay (acceptance collections).
- Guaranteed
24hr turnaround time on debit and credit timing via Citibank's
network.
A
Citibank Importer's Supplier Credit Solution using
Citicorp International Trading Company
Supplier
Credit Financing:
- Our
solution involves the use of Citicorp International Trading
Company, a trading company wholly owned by Citicorp, which
can intermediate trade flows between exporters and importers,
and which can also be used effectively for both intra-company
and third party trade transactions.
- Benefits
to The Importer
- By
paying the exporters at sight (or the agreed date)
ability by Importer to negotiate a lower purchase
price.
- Transactions
can be re-structured as trade payables (supplier's
credit) from short-term bank debt, with a positive
impact on the Importer's cash flow/ working capital
position.
- An
extension in the suppliers' facilities from sight
(or agreed date) up to a suitable number of days.
Contact
Us
|
