Advance Payments
It is a method of international trade where the buyer places funds at the disposal of the seller before shipment of the goods/services are done. Payments are done within 24 hours after receipt of customer request.
Features
Payment is made before goods are delivered to the buyer
Banks are involved only in the transfer of funds
Less expensive as compared to Letters of credit
Quick and secure means to transfer funds abroad
Benefits
Customers have access to foreign currency at very competitive rates
24-hour processing
Simple documentation requirements
How to Apply / Requirements
Visit any of our branches nationwide for an application form
Attach your Proforma invoice and Import Declaration Form (IDF)
Ensure there is sufficient funds in your account for the transfer
Customs Clearing Documents (Bill of Entry) to be submitted after goods cleared
Need More Information?
Our international trade team is here to help you navigate global markets with confidence.
