Import finance

Operating guide

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Operating guide

If you wish to arrange a finance facility, you must have a Foreign Trade Facility already in place with us.

Finance can be arranged for the following export products:

  • Transfers abroad.
      There are two possibilities:
    • Through electronic banking: from your computer, you can easily save the details of the transfer and the finance arrangement.
    • At your branch: you must provide the branch with instructions regarding the transfer and the finance required in order to process your request.
  • Finance an import remittance or an import letter of credit:
    • Your branch will provide you with a form that you must sign, indicating the conditions of the finance arrangement.
      This form must be submitted along with the remittance acceptance letter or letter confirming receipt of the bill or waiving discrepancies in the letter of credit.
      Both documents, the form and letter, must be signed so that the branch can process the corresponding request. If the due date for payment of the letter of credit or the remittance is deferred, you must submit a request for finance at least 2 working days prior to said due date.

    Remember, if you decide to finance in a currency other than the euro, you can take out exchange rate insurance to be applied on the due date, bearing in mind that 10% of the equivalent value of the insurance will be allocated to the funds available in your Foreign Trade Facility. This way, you can do away with any uncertainty regarding the exchange rate.