| Importers Express Account 
| A current account product, it provides importers / clearing agents immediate access to funds to enable them fast track opening of L/Cs, issuance of standby collateralised L/Cs and guarantees and to finance clearing of container load of goods, under warehousing arrangement with reputable warehousing agents. Features/Benefits
 Overdraft, advances and acceptance limits are to be marked on the account
Goods must be fast moving consumer items with customers having demonstratd experience and capability
Clearing agents must have valid current license
The credits must be secured with collateral security and/or otherwise secured with the imported goods/shipping documents of which the quality and quantity must be verifiable. This must also include an All Assets Debenture
Overdrafts is for 12 months, but revolving between 30 to 90 days maximum
End of facility tenor charges rebate based on target turnover, credit floats and forex volumes
Personal guarantee to be executed by the importer
Facility for clearing can be extended to clearing agents with executed Power of Attorney and goods kept in managed warehouse until exposure is repaid
To open an Importers Express Account, visit any Union Bank branch nationwide or call
234-1-2644361,2644193,2644198
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