Trade Finance
We offer Import and Export products to help you trade your goods and services across borders.
N5 000
Processing of export forms
N5 000
Import extensions
Some of the benefits
Versatile
We support import and export
Global
Available in 13 different International currencies
Secure
The safest way to manage your imports and exports
Reliable
Maintain cash-flow while transacting across borders
What you get
- Available to support both import and export transactions.
- Most secured mode of payment in international trade.
- Available in 13 currencies globally.
- Risk of non-payment and non-delivery does not exist as both parties are bound by conditions that must be met for both delivery and payment.
- Safest and most secured method of payment compared to other methods of payment.
- Provides financing structure for importers and exporters.
What it costs
|
Inward letters of credit (Export) |
Outward letters of credit (Import) |
|
You will need to pay N5 000 for the processing and registration of Nigerian Export form. To verify the authenticity of the credit, you will pay a fee of N2 000. To rewrite the credit, you will pay a fee of N0.5 per mille subject to USD25 or its equivalent. For confirmation of commission, 1% subject to a minimum of N5 000 is paid. You will pay 0.5% of face value where all or part of a credit is transferred. 1% is charged on negotiation of document commission, plus interest if applicable at local rate |
1% of face value is charged on credit up to 180days, 1.25% of face value on credit up to 270 days and 1.5% on credit up to 360 days. Commission of 1% is payable where letter of credit is extended for a period in excess of 12 months from the date of establishment or re-establishment. A fee of N5 000 is to be paid on extensions. You will pay N2 000 on any other amendments You will be charged N3/mille per month where the bill is less than 1 year. You will also be charged N5/mille per month where bill exceeds 1 year. N2 500 will be charged if your risk assessment report doesn’t come with a valid FX form M and nothing will be charged if your risk assessment report comes with a valid FX form M. |
How to get it
- Please visit a Stanbic IBTC Bank branch near you
- or call or +234 01 422 2222
- or email [email protected]
-
What you get
-
What it costs
-
How to get it
- Available to support both import and export transactions.
- Most secured mode of payment in international trade.
- Available in 13 currencies globally.
- Risk of non-payment and non-delivery does not exist as both parties are bound by conditions that must be met for both delivery and payment.
- Safest and most secured method of payment compared to other methods of payment.
- Provides financing structure for importers and exporters.
|
Inward letters of credit (Export) |
Outward letters of credit (Import) |
|
You will need to pay N5 000 for the processing and registration of Nigerian Export form. To verify the authenticity of the credit, you will pay a fee of N2 000. To rewrite the credit, you will pay a fee of N0.5 per mille subject to USD25 or its equivalent. For confirmation of commission, 1% subject to a minimum of N5 000 is paid. You will pay 0.5% of face value where all or part of a credit is transferred. 1% is charged on negotiation of document commission, plus interest if applicable at local rate |
1% of face value is charged on credit up to 180days, 1.25% of face value on credit up to 270 days and 1.5% on credit up to 360 days. Commission of 1% is payable where letter of credit is extended for a period in excess of 12 months from the date of establishment or re-establishment. A fee of N5 000 is to be paid on extensions. You will pay N2 000 on any other amendments You will be charged N3/mille per month where the bill is less than 1 year. You will also be charged N5/mille per month where bill exceeds 1 year. N2 500 will be charged if your risk assessment report doesn’t come with a valid FX form M and nothing will be charged if your risk assessment report comes with a valid FX form M. |
- Please visit a Stanbic IBTC Bank branch near you
- or call or +234 01 422 2222
- or email [email protected]
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