- Buyer submits requirement in terms of pro-forma invoice or buy and sell agreement of their trade deal to Exim Credit.
- Exim Credit conducts due diligence of their commercial transaction between buyer & seller and will inform the concerned parties about the approval or rejection of their BG application.
- Once the BG/SBLC application is approved then the buyer will provide certain documents and pay the BG issuance fee charges.
- Exim Credit will immediately Issue/Swift as per the required SBLC/BG on behalf of buyer & in favor of their supplier to conclude their trade deal.
- All Swift Issued/Transmited are full Recorded By SWIFT Alliance.
Bank Guarantee Information
A Bank Guarantee often helps firms conduct their business with parties they would never normally get the chance to deal with. Many suppliers will often choose to do business with customers that have a Bank Guarantee because it eliminates the risk that they will not receive the appropriate payment for the goods that they are selling.
Bank Guarantees are issued for a variety of purposes, such as to improve the credit ratings for issuers of industrial development revenue bonds and commercial papers; to provide back-up facilities for loans granted by third parties; to assure performance under construction and employment contracts; and to ensure the account party satisfies financial obligations payable to major suppliers.
Types of Bank Guarantee:
Performance Guarantee / Bond – PG/PB
Advance Payment Guarantee – APG
Tender Bond Guarantee – TBG