Pre- Import finance

This is a short-term cash advance that enable importers meet their immediate payment obligations under LC’s or Import Documentary Collection. Subsequently, Partner Bank/s receives payment from the importers at a predetermined date in the future.

Benefits to the importer

• Benefit for having more financial resources to clear goods from the port , manufacture, store or arrange for final sale to the end buyer
• The supplier is independent of the process of raising finance. They do not have to sign any documentation, but receive payment as per the original contract terms through the LC or Bill for Collections
• Clients are able to reimburse the suppliers on a ‘Sight’ basis or when the tenor is due, therefore be in a greater bargaining position – typically in terms of the contract price