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Trade

Our exclusive Trade department in the UK efficiently handles thousands of commercial transactions across the globe every year. Our vast network of branches, associates, subsidiaries and correspondents – both in India, where we are the largest bank, and around the world – means that we’re ideally positioned to handle all your trade-finance requirement.

Our Services for trade customers include:

  • Letters of credit – issue, advising, confirmation, assignment, transfer
  • Bill negotiation – backed by letters of credit
  • Bill collection – export and import bills, backed by letters of credit or not backed by letter or credit
  • Bill discounting – backed by letters of credit
  • Buyers credit – for imports into India (in GBP, USD, EUR currencies), at competitive rates, against SBLC issued by the importer’s bank. (Available for most countries of export – please discuss your requirements with our trade team.)
  • Export credit finance – against export credit insurance (Export Credit Agency-Multilateral Agency (ECA/MLA) backed Finance)
  • Forfaiting /Participation in the Account Receivables program of Corporates(Supply Chain Finance)
  • Risk participation – funded and unfunded, through our secondary Trade Risk Distribution and Participation desk.

 

Please discuss your requirement with our trade team.

Letters of credit are commitments to pay suppliers on behalf of buyers. To issue a letter of credit, you need to meet our application requirements -– Please speak to a member of the trade team for more information.

We can issue letters of credit for issuance, advising, confirmation, negotiation and collection.

Import letters of credit – We issue these on behalf of buyers guaranteeing payments to overseas exporters. To approve an import letter of credit, you’ll need to have a suitable credit limit – Please speak to a member of the trade team for more information.

Export letters of credit – We advise beneficiaries letters of credit received by us from another bank, either directly or through their bankers.

Collecting and making payments directly into open accounts can be risky. So we offer secure, worldwide bill-collection services for our customers which we route through our banking system. We can collect and make payments for you whether or not they’re backed by letters of credit.

Export collections / outward bills – These are documents which we send on behalf of an exporter to a buyer’s bank, asking the bank to collect payment. We can deliver your documents against the acceptance of goods or against payment by the importer, whichever you prefer.

Import collections / inward bills – These are documents sent to us by an overseas exporter, instructing us to collect your payment for goods imported.

Whether you export or import goods, or both, our trade finance team can arrange fund-based loans to support your international business.

Buyer’s credit – We finance imports into India and other countries at very competitive rates against SBLCs issued by the importer’s bank. (Available for most countries of export – please discuss your requirements with our trade team.)

Bill discounting – We can discount and buy export bills from exporters (not necessarily UK-based) where these are backed by letters of credit from major banks. (For bill discounting where letters of credit are not available, please speak to a member of our credit team.)

Contact:

Head (Trade)

Tel: +44 20 7454 4305

Email: headtrade.sbiuk@statebank.com