Letters of Credit:

This is a written undertaking issued by bank, acting at the request and on instructions of its customer, the applicant for the credit, account party or buyer, in which the bank obligates itself to make payment to the beneficiary (seller of goods or services) up to a stated amount within a prescribed time limit and upon presentation of appropriate documents by the beneficiary that conform to terms and conditions set by the buyer and expressed in the Letter of Credit (LC).

Benefits

·        Safe import/ export transaction

·        Assurance on delivery and quality of good

·         Post import finance loan to cover the matured obligation (To be pre-arranged)

·        Assured to obtain desired goods

Bank Guarantees

·        Bid Guarantees: A guarantee by the bank on behalf of a customer to facilitate taking part in a tender.

·        Performance Guarantee: A Bank guarantee to the employer to guarantee the performance of the contract by the customer.

·        Advance payment guarantee: A Bank guarantee to the employer to secure advance funds to the client for project mobilization. 

·        Retention Guarantee: A Bank guarantee issued to the employer to enable customer access retention funds of a contract from the employer.

·        Payment Guarantee: A Bank guarantee issued to the beneficiary to guarantee payment from a buyer.

Benefits

·        Customer gains confidence to employer

·        Minimized  performance risk to Employer

·        Assured advance money for project execution

·        Assurance of payment.

Bill/Invoice Discounting

A working capital facility enabling advancing fund against certified/confirmed invoices or cheques

Benefit

·        Customer able to access fund once an invoice has been issued or against post-dated cheques.

·        Quick processing. 

Bills Avalisation

The payment undertaking from the collecting bank to the presenting bank to secure the Payment from the Drawee

Benefit

·        Assist the customer to access the imported goods and trade in the market before the payment to the Supplier 

Commodity Financing

Financing acquisition of stocks of crops and/or other commodities. 

Benefit

·        Self-securing facility for commodity financing

Pre shipment Finance against export orders

Financing provided to an exporter who is in receipt of an export order(s) from importer

Benefit

·        Pre-shipment finance to purchase goods for exportation. 

Documentary collection

TIB CBL facilitates handling of documents in accordance with instructions received in order to obtain payment and facilitate deliver of goods.

Benefit

·        Fast processing

·        Cheaper instrument

Eligibility/Basic requirements

·        Kindly refer to the criterion indicated under credit facilities section.

Credit Facilities

 

 

 

Trade Products

Cash Management

Treasury Products

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