Frequently Asked Questions

What type of trade finance products do you offer and how long does it take to open an LC or a BG?

We offer, 

1. Letter of Credit (At Sight LC, Usance a.k.a Deferred LC, Standby Letter of Credit a.k.a SBLC)

2. Bank Guarantees (Bid Bond, Performance Guarantee, Advance Payment, Standby, Indemnity, Rental Guarantee, Etc,

3. SWIFT Services like (RWA, POF, and Other services)

Duration depends upon the type of product applicant requires and the country’s time zone. Our regular transactions period closes within 3 working days, For some cases, we process within 24hrs.

What is your document collection process?

Document collection is between the applicant bank and beneficiary or advising bank. We will be acting as an applicant so document holding and releasing capability will be with us, Kindly contact our representative to know more about the document clearance procedure.

What is the difference between yours and our Bank line of credit?

Your bank requires collateral or security to open a Letter of credit or a Bank guarantee, Your asset will be liable with your bank and it will be limited to the particular transaction. In our case, you no need to pledge your asset nor any cash or collateral to open a Letter of credit, Guarantees or any other SWIFT Services.

Explain, document collection procedure for deferred or usance LC?

Due to compliance, we treat usance or deferred Letters of credit as a Sight LC procedure. It means you have to make the payment to the client to get the documents. Unless – We get a special message from your beneficiary or advising bank to release the documents under stipulated terms and conditions. Instead, you can open a commercial standby LC or a Guarantee.

Do you offer top-rated banks LC?

Yes, We do offer LC’s from top-rated banks.

What are your interest rates?

There is no interest rate nor collateral required from the clients. Our charges were applicable only to the instrument issuance. Our charges vary depends upon the line limit and bank restrictions.

Our companies participate in Government tenders do you offer Bid bond and other guarantees?

Yes, Most of our prominent products are bid bond, performance guarantee, and advance payment guarantee. Many companies are willing to participate in government tenders even though participants have a relevant field experience but they lack a bank line of credit to participate in important bids.

Do you have any country restrictions?

We work with all the co-operating countries thus we have a restriction with few countries. ITF will go through your inquiry for initial assessment and feedback before getting into the process.

What are the benefits for suppliers? is it secure to use your credit line?

We use SWIFT Mode for the issuance of LC & BG as same as your bank. If the buyer goes bankrupt credit risks are insured by the issuing bank, which means issuing banks are obliged to pay the seller even though buyers fail to pay the supplier.

What is your due diligence process?

We do self and third-party due diligence by collecting details like License, Incorporation articles, Director’s KYC, and Company track records. 

Due Diligence will be processed during the negotiation and finalization of the deal. 

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