NBC has your trade finance sorted

This is an irrevocable undertaking, given by NBC as the 'Issuing Bank' at your request an importer to pay your beneficiaries or suppliers against the presentation of the compliant documents.

Benefits

• Maintain control over transactions
• A Letter of Credit is irrevocable, so none of the conditions or terms (such as latest date for shipment, payment terms and specific documentary requirements) can be changed except upon agreement of the Issuing Bank, Confirming Bank (if any) and beneficiary before they can be revised
   

In this case, an applicant or buyer (your customer) is issuing a Letter of Credit from his bank to you through NBC (as advising bank) and we will check for its apparent authenticity. If deemed to be authentic, we will notify or advise you as a beneficiary of the necessary actions to be taken.

Benefits

• You are assured of payments from your buyers or customers upon your presentation of compliant documents
  

NBC Import Bills for Collection are a safe and secure method of sourcing products worldwide.

Since documentation is handled by the bank, you can:

• Negotiate for better credit terms (e.g. making payments 30 days later)
• Only make payments when the goods have been shipped

Receive payment for goods you export with an export bill. We ensure that buyers only take delivery of goods when the documents of title have been released by their bank.

Documentary collections are a more secure method of payment than open account trading because:

• Transactions are handled through the banking channels
• Documents are only released upon instruction