Barclays

IMPORTS:

Import Letters of Credit:
In cases where your overseas or local supplier may require you to provide an irrevocable Letter of Credit in their favour to secure a trade finance transaction. Our network of branches and correspondent banks across the globe enables us to issue Letters of Credit to beneficiaries in virtually all countries worldwide and in all freely convertible currencies.

• Our Trade Sales and Operations team provide expertise to guide you on issuance of the Letters of Credit
• We maintain high levels of service and once you have completed the Letters of Credit issuance requirements, the letter of credit is transmitted via authentic swift (or other authentic modes) to our correspondent to be generally delivered to the beneficiary's bankers (advising bank) within 24 to 48 hours of our receipt of your application.

Revolving Letters of Credit
Revolving Letter of Credits are useful for buyers and sellers who have a long standing trading relationship. They involve our conditional undertaking to reinstate a Letter of Credit either after the occurrence of a specific event of after a specific time period has lapsed.

• Automatically reinstate instruments without the requirement of any further amendments.
• Number of re-instatements to be agreed upon specified in the documentary credit.

Standby Letters of Credit
Standby Letters of Credits are irrevocable and payable on demand.

• Conditional undertaking on behalf of the importer to the beneficiary.
• Settlement on behalf of the importer upon the presentation of specific documents by the beneficiary required under the credit.

Re-financing Import Letter of Credit
This is usually in instances where sight Letters of Credit or usance Letters of Credit are opened by us wherein we can finance the settlement under Letters of Credits.

• Settlement of both sight and usance import Letters of Credit.
• Refinance usually up to 180 days. Longer tenors can be exceptionally considered.
• Flexibility to manage your cash-flows.
• Refinancing of other Bank Letters of Credit subject to our Terms and Conditions.

Import Documentary Collections
Under documentary collections your overseas suppliers present trade finance documentation to their bankers which are then forwarded to us to facilitate collection of the proceeds on the behalf of the presenting bank and/or handle the document as agent for the presenting bank.

• Ensure prompt communication and execution of instructions as per requirements.
• Different forms of financing can be arranged to facilitate the import contingent on internal Terms & Conditions and internal approvals.

Avalization of Bills of Exchange
An "avalized" bill substitutes the importer's risk for the bank's risk thus providing the exporter with assuarance via secondary recourse for export proceeds on the avalizing bank :

• Barclays commits to pay unconditionally in case the drawee defaults in its payment obligation.
• Bills can subsequently be discounted or used to negotiate better credit terms.
• Assists to enhance the trading relationship with the importer.
• Avalized import Bills provide you additional time to settle the payment obligation.

PAYMENT OF BILLS UNDER OPEN ACCOUNT:
We can settle your bills received under open account terms by transferring the bill amount to the supplier but subject to receiving the required documents as prescribed by the Central Bank.

OTHER PRODUCTS AND SERVICES Guarantees/Bonds and Indemnities:
The main types of guarantees/bonds that we provide are bid bonds, performance guarantees, customs bonds, advance payment guarantees, shipping guarantees and bank guarantee applicable in different circumstances. If you require guarantees to be advised overseas, we have a number of branches and correspondent banks spread across a number of countries who offer competitive pricing and quality service.