Global Trade Finance

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Global Trade Finance

Solutions to suit your international banking needs

Get in touch today

Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. 

Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

 

Add your signposting title here… Benefits of Trade Finance

Importing or exporting? Our Trade Finance solution may help you to:

  Secure payments for the good and services you export

  Improve your cashflow so you can better negotiate extended credit terms prior to payment of goods.

  Maintain control over your goods until payment is recieved

  Facilitate payments to be made easily and effectively

  Support you in competing for contracts globally

  Provide reassurance that the financial and commercial documentation are controlled in the banking system.

We have three types of Trade Finance

With our expert trade finance solutions, let us help you mitigate the risks of international and domestic trade by improving your company’s cashflow, and gaining control over your imports and exports

Letters of Credit

  • Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
  • Import Letters of Credit are a conditional bank guarantee of payment
  • Payment is made upon's Ulster Bank's receipt of the financial and commercial documentation (Bills of Lading, Invoices, Packing list etc) subject to the the terms and conditions of the Letter of Credit having been met.
  • Irrevocable and cannot be cancelled unless all parties agree
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Terms and conditions apply.

Import Letters of Credit are subject to credit approval

Schedule of services - Payment & International banking charges

 

 

Documentary Collections

Cover your business against performance risk. Negotiate new payment terms with suppliers, offering better security for both sides.

Improved cashflow

When importing, you don't pay until you receive shipping confirmation – so you keep your cash for longer. When exporting, deferred payment collections can often be discounted with your bank.

Cost-efficient and easy to use

There's no need for a capital-weighted bank facility, and documentation is turned around quickly.

Added security

Importers only pay once there's proof of shipment, so it's more secure than paying for your goods in advance. If you're exporting, you keep control of the documents until the goods have been paid for or a bill of exchange has been accepted.

Universally regulated

Documentary collections are subject to globally recognised rules issued by the International Chamber of Commerce.

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Bonds, Guarantees and Standby Letters of Credit

A Bond or Guarantee gives a buyer the security of a financial guarantee in the event of the seller's failure to meet its contractual obligation. If the seller fails to deliver the goods or services as described in the contract with the buyer, the latter can 'call' the Bond, Guarantee or Standby Letter of Credit to receive financial compensation from the bank.

Standby Letter of Credit is similar to a Bond or Guarantee. It is the primary guarantee instrument used in North America.

Types of Guarantees

  • Bid or Tender Bonds - Issued by the supplier in support of a contractual tender.
  • Performance Bond - Issued by the supplier in order to support their performance obligations under the commercial contract.
  • Advance Payment and Progress Payment Guarantees - Issued by the supplier when the buyer has provided a down payment for the supply of goods or services.
  • Payment - The supplier receives a Guarantee from the buyer to support their financial obligations under a commercial contract.
  • Customs Bonds / Custom Duty Deferment Guarantee / H.M. Customs & Excise Guarantee - This allows a company to defer payment of duty or tax.
  • Standby Letter of Credit - Covering a buyer's financial obligation in relation to the purchase of goods and services in Northern America.
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Terms and conditions apply.

Bonds, Guarantees and Standby L/Cs are subject to credit approval.

4 reasons to choose Ulster

We’re open for UK businesses

We're helping so many businesses across Northern Ireland. Why not be part of the success?

We’re experts in most fields

We have customers in most sectors, so you can be confident with our expertise and support.

We offer a support network

You'll receive your own Relationship Manager (turnover and eligibility criteria apply).

Our app makes it easier for you

With fantastic features, our app can do the heavy lifting, so you can focus on your business. (eligibility criteria applies).

MaxTrad

Our secure online platform lets you manage your international trade transactions from anywhere, 24 hours a day.

Find out more

Get in touch today

Our International Banking team are waiting to hear from you. Our online enquiry form takes two minutes to complete and ensure we get the right person to contact you.

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Not found what you're looking for? We're here to help
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General enquiries

Please call 0345 366 5592 (UK)

or if calling from abroad, 0044 2890 538459

Lines are open 8.30am - 5.30pm  Monday to Friday - Note calls may be recorded  Call charges

 

 

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