DCSIMG Trade Finance | DenizBank

Pre-export financing

Cash Against Documents

A Documentary Collection is a method of payment used in international trade whereby the Exporter entrusts the handling of trade documents to banks and gives the banks instructions concerning the release of these documents to the Importer. The two most common conditions for release are:

  • Documents Against Payment (D/P): Documents may be released only if the Importer makes immediate payment according to the contracted agreement between the Exporter and the Importer. Also known as a sight Collection.
  • Documents Against Acceptance (D/A): Documents may be released only if the Importer accepts the accompanying draft, thereby incurring an obligation to pay at a specified future date. Also known as a term Collection

 Cash Against Goods

This method is similar to the Documentary Collections (Cash Against Documents - CAD) except that the buyer makes payment against the goods and therefore is used when there is a very good relationship between the importer and exporter.

Letters of Credit

Postfinancings

Banker's Acceptances

A Bankers' acceptance is a renegotiable draft drawn on and accepted by a bank, unconditionally ordering payment of a certain amount of money at a specified time in the future to the order of a designated party.

It is an instrument which allows a bank to finance its clients without utilizing any of the bank's own resources. Instead, funds are provided by investors who are willing to purchase these obligations on a discounted basis in the secondary market.

Bank Guarantees

A letter of guarantee is a written promise issued by the Bank to compensate (pay a sum of money) to the beneficiary (third party, local or foreign) in the event that the obligor (customer) fails to honor its obligations in accordance with the terms and conditions of the guarantee/agreement/contract.

  • Foreign Bank Guarantee: This guarantee is issued at the request of a correspondent bank in favor of local companies that organize international bids or foreign suppliers.
  • Local Bank Guarantee: This is issued by the Bank at the request of contractors, wholesalers, companies involved in transaction, etc. for the purpose of handling the guarantee request they receive in their operation.

Types of Letters of Guarantee

Bid Bond / Tender Guarantee

Bid bond is issued by the Bank upon the request by the bidder expressing the Bank's commitment to meeting the claim of the beneficiary in case the bidder withdraws from the bid during the bid period or fails to accept the award when he/she becomes a winner. 

Performance Guarantee

  • Performance bond/guarantee: A Performance bond is issued by the Bank in favor of a bid organizer (beneficiary) at the request of the bid winner to meet any claims to be made by the beneficiary in case the bid winner fails to deliver the goods or perform the service as per their agreement. 
  • Payment guarante: Such guarantee is issued by the bank in favor of the supplier (beneficiary) in case the buyer fails to make payment in relation to the sales contract by the agreed date. It is often used in terms of delivery against goods (open account) - instead of a documentary credit.
  • Retention guarantee: It is issued by the Bank in favor of the shipping line/company at the request of the buyer to secure claims resulting from goods being released without the presentation of the BL due to postal delay  or  at the request of the supplier due to issuance of a new BL, original being lost.
  • Customs duty guarantee
    These guarantees are issued by the Bank to meet the requests of the beneficiary in respect of customs duties in circumstances where the goods imported without payment of customs duties are not re-exported and the respective customs duties have not been paid. 
  • Others

Advance Payment Guarantee

This is issued by the Bank in favor of a buyer who makes the advance, at the request of the seller/contractor who received the advance, representing the Bank's commitment to repay the sum in the event that the seller/contractor fails to honor the contract terms in their entirety or in part. 

Letter of Indemnity

It is issued by the Bank in favor of the shipping line/company at the request of the buyer to secure claims resulting from goods being released without the presentation of the BL due to postal delay  or  at the request of the supplier due to issuance of a new BL, original being lost.

Forfaiting and Other Discounting Transactions

A forfaiting transaction is the purchase without recourse to an Exporter of an instrument of debt at a predetermined price maturing in the future and arising from the provision of goods or services.

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