Trade Solutions

Trade Solutions 

Doing business internationally can often be complicated, frustrating and risky if you don’t have the right systems in place. That’s where we come in. We offer innovative and flexible solutions that aim to facilitate international trade and minimize risks, ensuring that your international transactions go through quickly and without a hitch.

Import Letters of Credit

With our vast array of international correspondent banking relationships, our highly skilled personnel and a robust Online Trade Finance Application portal, we offer first class solutions to clients importing goods through the Import Letters of Credit payment mode.

Export Letters of Credit

We provide a holistic range of services to support exporters under the Letter of Credit payment mode. Our services include receiving, reviewing and advising on authenticated instruments, documents negotiation, export financing- (including LC discounting) and receiving & certification of exports proceeds.

Import (Inward) Bills for Collection

Our clients who enjoy suppliers’ credit under the Import Bills for Collection payment mode have a great partner Bank in us, as their transactions are treated with utmost care and speed. We add our aval to accepted Bills of Exchange when required by our clients.

Export (Outward) Bills for Collection

We support our clients’ exports through the Bills for Collection payment mode from production/sourcing of exported goods to documents checking, dispatch, receipt and certification of export proceeds.

Bonds/Guarantees

We provide a range of bonds and guarantees including Bid/Tender Bonds, Performance Bonds, Advance Payment Guarantees, Customs Bonds, Shipping Guarantees and Retention Bonds. We provide that degree of assurance and security which counter parties need to build trust and grow their relationship with us.

Specialized and Structured Trade Finance

Our innovative structured trade solutions go beyond classical off-the-shelf trade finance products to offer solutions that support large and more strategic transactions and broader segments of the value chain.

Local Lc’s

The local LC product is a trade settlement solution whereby UBN, at the request of the customer (applicant) issues written payment commitment to the seller, undertaking to pay an agreed amount (in Naira) on behalf of the applicant, upon performance by the beneficiary of the local letter of credit. Some of its features are:

  • It is a Trade instrument in which a commercial credit is enhanced by UBN via issuance of an LC to a seller to facilitate local trading (Credit enhancement).
  • It improves the sellers credit as the bank assumes the liability of the
    payment.
  • Allows you negotiate better pricing terms with your supplier