Export Letters of Credit
Export Letters of credit are advised within 24 hours of receipt. Upon request our confirmation may also be added. Confirmation eliminates the risk of default by the beneficiary to the bank and can facilitate access to a wide variety of finance solutions both before and after actual shipment has taken place.

Pre-shipment Finance
Pre-shipment finance provides access to finance to the exporter before shipment has taken place under a letter of credit. After successful credit assessment and presentation of export orders, Barclays can offer a wide range of tailor-made pre-shipment financing solutions that will enable you fulfil your trade obligations in a timely manner. Normally a percentage not exceeding 70% of the value of the export order is financed and proceeds are routed to your specified account the same day.

Post-shipment financing
Post shipment finance provides cheaper access to funds after shipment but before maturity. This can be done through negotiation/discounting and can therefore enhance your cash-flow position thus further enabling you to focus on your core business. To facilitate this, the fulfilment of all the terms and conditions under the credit is required.

Transferable Letters of credit
These are letters of credit that can be transferred from the first beneficiary to one or more additional beneficiaries by the transferring bank. We are currently actively involved in issuing and advising transferable letters of credit on behalf of and in favour of our customers. Given the risks inherent in these instruments, our trade specialists are available to further discuss the implications, terms and conditions under this type of credit.

Forfaiting
Under this specialised facility, Barclays purchases obligations falling due at some future date arising from the sale of goods or services without recourse to the seller. This is a transaction based facility and is generally evidenced by the use of negotiable instruments such as bills of exchange and promissory notes guaranteed by a third party usually a bank. Traditionally used in financing of exporters, forfaiting has evolved to also suit local traders/sellers and Barclays has been at the forefront of this.