As a corporation or individual dealing with imports and exports, we will assist you by issuing letters of credit, offering guarantees, and managing import/export documentation.
Letters of Credit (LCS)
Issued by the Bank at the request of the applicant (importer/applicant) and the Bank gives an irrevocable undertaking to pay the beneficiary/exporter for the goods or services.
- Payment is guaranteed by both the issuing bank and the confirming bank as long as compliant documents are presented.
- Mitigate the buyer/country risks.
- Ensure delivery is done within schedule.
A written irrevocable undertaking from the Bank to pay the seller if the buyer defaults on his obligations.
Some of the Bank guarantees include the following:
- Bid/tender bonds
- Performance bonds
- Advance payment guarantees
- Payment guarantees
- Credit guarantees
- Provides security for performance
- Reduce risk
- Give assurance of the serious intent and business standing of the party whose obligations are underwritten.
With Co-op Banks’ Invoice Discounting, you can withdraw money against sales invoices before payments are done. This is available to various prequalified procuring entities like UNMISS, UNDP, UNMAS, UNIFSA, WFP etc.
- This makes available 70-80% of the invoice value as soon as it has been raised and the remainder is made available when the customer pays.
- Enables you to unlock your business’ working capital and cash flow that would be obtained after a period of time depending on the terms of payment e.g. 30 – 45 days after invoicing.
Purchase Order Financing (LPO)
LPO Financing is a form of short-term financing designed for suppliers whereby funds are advanced against local purchase orders that suppliers will have received to supply certain goods or services.
- Provides working capital to execute the contract
- Faster/timely execution of the contract as a result of the access to funds.
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Co-operative Bank is Regulated by the Bank of South Sudan.