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Guidance and Advisory Services

Our relationship managers and trade finance personnel are here to facilitate international trade and guide exporters and importers through the very technical aspects of arranging to buy & sell goods and services in overseas markets, taking into consideration the variety of banking products available and the application of the relevant trade rules. We have experienced, professionally qualified staff and know our markets well through either having representation in the countries where we do business or by frequent marketing visits.

As a Istanbul
based bank, coupled with the Group’s branches and international offices Emirates Citizen Bank ( United Arab Emirates ) Ltd is well placed to provide its clients with a wide range of Trade Finance Products and Services.

In the Middle East as well as in Africa, we can offer a wide range of International Trade products and services, including:

Import and Export Letters of Credit
Confirmation/Silent Confirmation of Export Letters of Credit Secondary
Market Assets Purchases Import and Export Documentary Collections
Letters of Guarantees Standby L/C’s Structured Trade Finance Business
Guidance and Advisory Services

For information about the above services contact:
Tony Hunt - Head of Business Development and Trade Services
Tel: +44 020 3967 7857
[email protected]

Export Letters of Credit

Advising and Confirmation Services
The bank provides L/C advising and confirmation services for a large number of correspondent banks in Africa and the Middle East. Under our L/C confirmation arrangements, exporters can conduct trade with third world countries in the knowledge that the risk of non-payment by the importer/issuing bank is guaranteed by our bank provided that all terms and conditions of the L/C are complied with. Exporters can take advantage of our wide coverage of banking relationships across the MENA and ECOWAS regions to provide them with payment security in difficult markets.

Document checking
We recognise that cash-flow is critical for many exporters and trading companies. Also any delay in document processing can result in demurrage charges at port of destination. To mitigate both of these issues, we offer exporters a fast and efficient document checking service to ensure that payments are made and documents dispatched within a very short time of presentation. Our document checking is performed in Istanbul
and not overseas like many other banks.

Without Recourse Discounting
We may offer to discount ‘without recourse’ letters of credit which are payable on deferred payment terms. This gives exporters the ability to raise immediate finance for goods shipped even though the letter of credit and underlying contract with their buyer is on deferred payment terms. Companies find this particularly useful in doing business overseas as this allows them the ability to offer credit terms to their customer.

Pricing
We provide price quotations on request for any specific transaction giving exporters the comfort of knowing in advance how much any transaction will cost them.

Nomination
Companies that use our services specifically nominate us their preferred advising and confirming bank by requesting that the LC be advised direct to Emirates Citizen Bank ( United Arab Emirates ) Ltd, Istanbul
, Swift address: ACDNCATTXXX

Import Letters of Credit

Issuance
For customers with pre-approved facilities and using our network of correspondent banking relationships, we issue letters of credit on behalf of customers to suppliers located throughout the world for the purchase of goods and/or services.

L/C Terms
Customers/Importers will often require goods within a certain time frame and the documents to evidence that shipment has taken place. A letter of credit allows customers the opportunity to dictate terms in specifying a latest shipment date, documents required and expiry date for presentation of documents. The letter of credit is also limited to value.

Deferred Payment Terms
LC’s may be issued on deferred payment terms (if agreed with your supplier) giving customers the opportunity to sell the goods before having to issue their payment under the LC.

Collections

Export Collections
The bank provides an export collection service for its customers. Under this arrangement, the customer will ship goods overseas and entrust the bank with the handling of documents and collection of payment from overseas. This normally entails us presenting the documents to the bank holding the account of the buyer overseas. This is an alternative and cheaper method of service but much less secure than an LC as you are totally reliant on your buyer to authorise payment.

Inward Collections
We provide collection handling services for documents drawn on our customers. Collections will be handled in accordance with instructions received from the Presenting Bank and documents released against acceptance or payment.

Aval Drafts
This is a means of securing a bank guarantee for the payment of a bill for collection. This will need to be agreed with the importer in advance as they will need to have a facility with their own bank for guaranteeing payment of such items. We can offer to discount Aval drafts provided we have lines for the bank guaranteeing payment of the bill.

Bank Guarantees

For customers with approved facilities, we issue bid, performance, advance payment and demand guarantees subject to English law and in accordance with Uniform Rules for Demand Guarantees.

Contacts

For further information on any of our Products, contact our Trade Finance Team:

Head of Business Development and Trade Services
Tony Hunt

Head of Trade Finance

Wendy Phillips