Product & Services
Citi Trade Finance and Services

Citi's Trade Solutions provide an array of products that enable importers and exporters to conduct, monitor, and control international commercial transactions including mitigating associated risks. Citi provides financing solutions to both importers and exporters, which help to manage their payables and receivables. Due to our global presence, we can offer our customers extensive knowledge of trade flows, legal and regulatory requirements, and country specific information. Our global presence also allows us to take end-to-end approach in commercial transactions, improving their efficiency.

For more information

Head of Trade, South Africa: Nazeer Haffejee +27 11 944 0116

Andre Gouws: Sales Africa Head +27 11 944 0770

Wendy Mazibuko: Trade Transaction Owner 0800 022 484

The increasing competition for international business makes speedy access to innovative trade financing vital to the success of a commercial contract. Often, the ability of your suppliers, distributors or customers to fund their transactions can impact the success of your cross-border business. Citi provides innovative solutions to your financing needs.

Citicorp International Trading Company Inc.


Export Credit Agency

Provides security of receivables repayment and sales financing to Exporters. Applicable for

  • Trade transactions with deferred payments up to 80 days
  • Where the receivables are insured through Export Sales Cover or the Domestic Sales Cover of Credit Guarantee Insurance Corporation, South Africa's largest Trade Insurance Agency.

This Product provides the ability to

  • Insure the receivables, and
  • Obtain financing for domestic and foreign trade transactions evidenced by invoices.

Financing is

  • Arranged through the purchase of given receivables
  • Based on the assignment of all rights under the Credit Guarantee Insurance Corporation insurance policy to Citi South Africa.
  • Based on limited recourse to the Seller.

The recourse is exercised only in the following situations:

  • Violation or non-execution of the contract obligations by the Seller
  • Violation or non-execution of the Credit Guarantee Insurance Corporation insurance policy by the Seller

Since this product is a custom-made solution to meet your specific transaction needs, please contact Keith Marshall +27-11-944-0796, who will be happy to assist you with your requirements.

Pre and Post Shipment Export Finance

Provides accelerated cash flow and increased liquidity to exporters.

  • Pre-Shipment Finance - A loan providing the necessary liquidity for procuring and processing goods to be exported.
  • Post-Shipment Finance - A loan that enables exporters to extend better financing terms to buyers, once proof of shipment has been effected.
  • Limited Recourse Finance - A discount of letters of credit issued or drafts accepted by Citi or other banks (requires credit approval). The funds advanced do not affect exporters credit facilities.
  • Without recourse for accepted drafts or promissory notes issued by other Citi credit customers. This product, is unique to Citi, and provides finance to your buyer without commercial and political risk because our global network enables us to complete transactions end-to-end.
  • With Recourse Finance - A discount of letters of credits, drafts or commercial documents that affect your credit facilities. Citi advances funds to you, but, if your importer fails to honour the agreement, you are committed to pay.
  • Buying Export Receivables - Citi purchases the receivables of an Exporter in a foreign country from an Importer who is a local Citi credit customer.

Financing Export letters of credit– where

  • Export letters of credit is advised by Citi South Africa.
  • Facility in your name or
  • Citi has used facilities available for your Importer's bank. Financing will be extended based on these two points.

Electronic Banking Transactions are completed faster by using CitiDirect® Online Banking, our internet based platform can be used for both cash and trade transactions instead of relying on slower means such as mail, fax or telex.Futhermore, import letters of credit, Export letters of credit and amendments are delivered electronically via CitiDirect® Online Banking.

For more information

Vacant: Trade Product Manager

Citi supports every aspect of the documentary trade transaction, from issuing, advising, amending, confirming and paying letters of credit, to the settlement and administration of documentary collections and guarantees. Our objective is to help you automate and speed-up predominantly manual trade processes using leading-edge technology and our broad range of trade services, including:

Citi Import Letters Of Credit Services

Citi issues letters of credit on behalf of thousands of companies world-wide, enabling shipments to take place and allowing commercial trade transactions to proceed swiftly and efficiently. Citi enables you to initiate letters of credit electronically, easily track the status of your transactions, centralize your company's letter of credit reporting and improve administrative efficiency.

The breadth of Citi's on-the-ground presence in over 100 countries, coupled with the scale of our trade organization, means that we often act for both importer and exporter in the same transaction. This multiple involvement means we handle all documentation, providing importers and exporters with an efficient service. Citi offers flexible services, handling all or any part of the Import Letter of Credit process.

Citi Export Letters Of Credit

Citi is one of the largest issuers of commercial letters of credit in the United States. Each year Citi issues, advises and confirms letters of credit in favor of thousands of exporting companies globally.

As Citi's on the ground branch network spans more than 100 countries and deals with over 3,000 correspondents, communications are more efficient and payments can be faster. Wherever you wish to conduct trade you are supported by our knowledge of local trade practices and global expertise.

By centralizing your export letters of credit through a single bank, your administrative efficiency is enhanced. You can receive reports on outstanding transactions, shorten payment cycles and benefit from Citi's expertise and established relationships in local markets globally.

Citi Export Letter Of Credit Confirmations

Citi can help you arrange export letter of credit confirmations speedily and efficiently. Citi's global branch network in over 100 countries has the local knowledge you need to manage your risk exposure effectively.

Citi Letter of Credit Confirmations assure you of payment by the confirming Citi branch. This is of particular importance to you where you perceive the performance of the issuing bank or the stability of the issuing bank's country to be at risk. Citi's global branch network confirms letters of credit issued by banks around the world. Confirmation of other banks Letters of credit are considered on a case-by-case basis.

Citi Documentary Import Collections

Let Citi help you simplify the administration of your documentary import collections. Citi Documentary Import Collections simplify the administration of commercial trade transactions, and reassure your trading partner of prompt remittance of payment.

Citi Export Documentary Collections

Citi Direct Export Collections offer an alternative to letters of credit for the administration of commercial trade transactions. However, while they do help safeguard the exporter's title to goods until payment has been received, unlike letters of credit, all credit and country risk remains with the exporter and there is no engagement by the bank to cover these risks. For this reason, direct export collections are less costly than letters of credit and, where the exporter is comfortable with these risks, they offer a practical and efficient solution.

Other benefits include the ability to electronically initiate export collections, centralize the management of export receivables , track outstanding collections, know when payments are made, and improve the reconcilement and administration of your export processing.

Bid And Performance Standby Letters of Credit

Citi is a leading issuer of Standby Letters of Credit. Bid and performance standby letters of credit help mitigate the risk of a bidder's failure to perform on the bid,s or a contract party's failure to fulfill the terms of the contract. These instruments, for example, may be used to guarantee a builder's obligation to complete construction of a project or to support a seller's promise to deliver goods. The instrument is issued by Citi and is payable to the beneficiary upon the beneficiary's presentation of conforming documents specified in the instrument.

The recourse is exercised only in the following situations:

  • Violation or non-execution of the contract obligations by the Seller
  • Violation or non-execution of the Credit Garuantee Insurance Corporation insurance policy by the Seller

Since this product is a custom-made solution to meet your specific transaction needs, please contact Natasha Robinson 27 (0)11 9440321, who will be happy to assist you with your requirements.

CitiDirect® Online Banking is Citi's web-based banking platform, which puts all your corporate banking functions in one secure place, giving you centralized acces to your account information in real-time around the globe, right from your desktop. An evolving array of our products are available on CitiDirect® Online Banking, and currently covers Payments , WorldLink Multicurrency Payments System and Trade Services.

CitiDirect® Online Banking provides a single window for making both local currency ZAR and foreign currency payments.

If you would like to find out more about how CitiDirect® Online Banking could work for you, please contact CitiService