We partner you to solve your unique working capital and cash management challenges. Risk mitigation is key when navigating local and international trade and our comprehensive range of solutions enable this.
Our Trade and Working Capital teams have thorough trade ecosystem knowledge – offering comprehensive advisory services and working capital strategies that go beyond transactional support.
We offer a full range of working capital and trade finance solutions
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Frequently asked questions
What costs are associated with opening a Letter of Credit, and who pays the fees?
The specific costs and who is responsible for them can be negotiated by the buyer and seller as part of your trade agreement and should be discussed with our expert bankers. The terms will be outlined in the LC or in your sales agreement.
How long does the Foreign Bills of Collection process take from start to finish?
The process relies on several factors, including the financial institutions involved, the complexity of the transaction, and countries where the buyer and seller are located. This means it can vary widely. To get a more precise timeline on your specific transaction, speak to our expert bankers.
How long does it take to get a Bank Guarantee issued?
This depends on the complexity of the guarantee and the due diligence required but can take as little as 48 hours.
Are there specific documents required for a Foreign Bills of Collection transaction?
Yes, there are documents needed. Documents you might need are:
- Commercial Invoice – details about the products or services that are being traded
- Bill of Lading or Airway Bill – proof that the goods have been shipped
- Certificate of Origin – confirms the country of origin of goods
- Insurance Certificate – proof that your goods are insured while in transit
- Packing List – a document that outlines the contents of your shipment
Note: The documents needed will differ depending on the nature of your transaction, trade agreement, and the countries involved. For specific documents needed for your transaction speak to your RMB Team.