Issuance Procedure
At International Trade Finance (ITF), we pride ourselves on providing a seamless and efficient process for acquiring trade finance instruments. Our commitment to transparency, simplicity, and professionalism ensures that our clients can secure the financial tools they need to thrive in international trade. Below, we outline our step-by-step process to guide you through obtaining our services.
Step-by-Step Process
Step 1: Initial Application
Begin by completing our application form or submitting your Proforma Invoice, Sales Contract, or project details. This initial step allows us to understand your specific requirements and prepare accordingly.
Step 2: Draft Preparation
We will prepare a draft of the required financial instrument based on your submission. Should any amendments be necessary, revisions will be made to ensure the document fully meets your requirements.
Step 3: Documentation Submission
For due diligence purposes, please provide the following documents:
- A brief company profile (Presentation or Executive Summary)
- Certificate of Incorporation
- Company shareholding structure (principal shareholder details)
- Passport copy and National Identity document of the principal shareholder
- Bank statements and tax details, where applicable
Step 4: Due Diligence and Validation
We will conduct a thorough due diligence and validation review. Upon approval, we will prepare the Service Agreement and Invoice for your review.
Step 5: Agreement and Payment
Prior to issuance, both the applicant and the beneficiary are required to sign and stamp the instrument draft as approval, in order to avoid any disputes following issuance. The applicant must also review and sign the Service Agreement as confirmation of acceptance, and proceed to pay the issuance fee. This step formalises acceptance and initiates the financial process.
Step 6: Issuance of Financial Instrument
Upon receipt of the issuance fee, we will initiate the issuance of the financial instrument via SWIFT. For hard copy instruments, delivery will be arranged by post or courier.
Step 7: Confirmation of Receipt
Once the instrument has been issued, the applicant will receive a formal confirmation of receipt, confirming that the process is complete and the instrument is ready for use.
Important Notices
Turnaround Time: Subject to the timely submission of all required documentation and receipt of the issuance fee, instruments are typically issued within five to ten banking days. Turnaround times may vary depending on the complexity of the transaction, the instrument type, and the requirements of the issuing bank. ITF will endeavour to keep clients informed of progress throughout the issuance process.
Validity of Instruments: The validity period of all financial instruments issued through ITF is determined by the mutual agreement of the applicant and the beneficiary, as specified in the instrument draft. Validity periods vary depending on the nature and requirements of the transaction and may range from as short as one week or ten days, to thirty days, several months, or beyond one year where the transaction demands it. Clients are advised to confirm and agree upon the required validity period at the application stage, as amendments post-issuance may incur additional time and cost.
Applicable Rules and Governing Standards: All instruments are issued in accordance with internationally recognised trade finance rules and standards, including UCP 600 (Uniform Customs and Practice for Documentary Credits), URDG 758 (Uniform Rules for Demand Guarantees), and ISP98 (International Standby Practices), as applicable to the instrument type. Clients are encouraged to familiarise themselves with the relevant rules governing their requested instrument.
Hard Copy Instruments: Some of our issuing banks can provide hard copy instruments or documents printed on bank letterhead, upon request.
Usance or Deferred Letters of Credit: These can be provided under strict procedures similar to Documents Against Payment terms, given that our services are unsecured. In certain cases, our issuing banks may accept consent messages via SWIFT from the beneficiary’s bank to authorise the release of documents to the applicant. Additionally, some issuers may release documents where the applicant is a well-established company with a strong track record.
Amendments Post-Issuance: Any amendments requested after an instrument has been issued will be subject to the agreement of all relevant parties, including the issuing bank and the beneficiary where applicable. Additional fees may apply depending on the nature and complexity of the amendment. ITF will not be held liable for delays or costs arising from amendment requests made after issuance.
Payment Methods: We accept bank transfers and wire transfers only. We do not accept escrow arrangements or any other payment methods.
Completion of Work: Our engagement is considered complete once the instrument has been issued. A copy of the SWIFT transmission message will be provided for your records.
Confidentiality: All client information, documentation, and transaction details shared with ITF are treated with the strictest confidentiality. We do not disclose client information to third parties except where required by law, regulatory obligation, or with the explicit consent of the client. Clients are equally expected to treat all draft instruments, pricing, and correspondence from ITF as strictly confidential.
Avoiding Fraud
- Clients are strongly advised to exercise caution when approached with offers involving terms such as “SBLC leasing,” “SBLC purchase,” “SBLC funding,” “monetisation of bank instruments,” or “investment against bank guarantee.” These are not legitimate banking or trade finance practices and are commonly used by fraudsters to deceive and defraud unsuspecting businesses.
- ITF strictly does not engage in, facilitate, or endorse any such schemes. Our services are limited to the legitimate issuance of trade finance instruments as outlined on this page, and any offer made under our name that falls outside these services should be treated with the utmost suspicion.
- If you are approached by any individual or entity claiming to represent ITF, or using our company name, branding, or contact details in connection with any of the above schemes, please do not transfer any funds or share sensitive information. Contact us directly and immediately to verify the legitimacy of any such approach.
- ITF will never cold-call clients with unsolicited investment or funding offers, and we will never ask for advance fees outside of our documented issuance fee structure.
Conclusion
At International Trade Finance (ITF), we are dedicated to providing reliable trade finance solutions that cater to the diverse needs of businesses engaged in international trade. Our transparent and streamlined process ensures that you receive the financial support your business requires.
Contact us today to learn more about our services and how we can support your international trade objectives.