FOREIGN SERVICES

These are transfers outside the country for payment of goods and services.  Transfer can also  be effected for the maintenance of dependants abroad i.e. for Upkeep, School fees ,Subscription Fees etc

TARGET:  All customers, Small Medium Enterprise, Companies and Corporate Clients.

PURPOSE:   For payment of Goods and Personal Transfer

LETTERS OF CREDIT

An unconditional undertaking/guarantee issued by the Bank on behalf of its Customer to a Bank or through another Bank on behalf of a customer.

That if certain goods are supplied, or services performed as evidenced by the presentation of certain documents strictly in accordance with certain terms and conditions. They will pay for the amount of the Invoice either now, or at a certain future determinable date.

TARGET:  Small Medium Enterprise, Companies and Corporate Clients.

PURPOSE:  For payment of Goods and Services across borders.

DOCUMENTARY COLLECTIONS

It is a gentleman’s agreement between Exporter and Importer for shipment to be made.  The Documents relating to the shipment to be sent to the Importer’s Bank for payment.  In accordance with a set of instructions from the exporter.

TARGET:   Small Medium Enterprise, Companies and Corporate Clients.

PURPOSE:  For payment of Goods and Services across borders