A written irrevocable undertaking issued by the bank to pay to the beneficiary a specific sum of money on demand in the event that its customer (applicant) has not fulfilled his cont
A Letter of Credit is an undertaking issued by a bank (Issuing Bank) for the account of the buyer (the applicant) to pay the beneficiary (the seller), provided that the terms of the
Financing of customer’s LPO at an agreed fee and commission. The facility will be applicable to customers who normally trade with reputable companies with good credit rating. F
Giving value to the seller for services/goods sold on credit terms (e.g. 60 days, 90 days…) before maturity date subject to confirmation of the acceptance by drawee through th
Facility offered by the Bank to the customer to purchase inputs for the production process of goods which are for onward sale/export. The facility helps to generate additional workin
A loan facility given by the bank to an importer (customer) to settle bills of exchange that have matured and the importer (customer) has not mobilized adequate resources to settle t
It is a service for facilitating payments for clients who require guarantee for making payments abroad.
Features & Benefits
This is a term used to describe financing technique whereby the commodity (goods) imported are placed at the custody of collateral manager. The commodity becomes the collateral and o
This is a term used to describe various financing techniques or even restructuring techniques i.e. any structure that isolates asset being financed from the originator and use
This is an undertaking given by the Bank to honour, on a customer’s behalf, payments of Bills of Exchange. This service is applicable to both domestic and international trade.
The handling of documents in accordance with instructions received (collection instruction) from the remitting bank on behalf of the drawer in order to obtain payment or acceptance f
This aims at facilitating clearing of foreign currency cheques drawn on foreign banks. It assists Equity Bank customers who trade with foreign cheques.