TRADE FINANCE AND SERVICES
BRED helps you at every stage of your development. Whether you are importing or exporting, BRED has the financial resources you need to participate in the global market. Take a look at our trade finance and services below.
TRADE FINANCE AND SERVICES
In international trade, efficiency is paramount. BRED can help you with the commercial expertise you need to maximise your opportunities. We can also structure trade solutions to facilitate more complex transactions.
As a BRED Bank client, you can benefit from our experienced trade finance personnel, rapid processing and our risk management services. We also have access to a premium global network of correspondent banks.
IMPORTERS
Letter of Credit
For Importers
A BRED letter of credit offers you a secure means of paying your suppliers by ensuring the documents you stipulate are in order before we effect payment.
This will help you minimise the risks associated with payment for your imports.
With agent banks in major countries worldwide, BRED trade services enable you to process your international payments right on your doorstep.
Collections
For Importers
BRED Bank (Fiji) will inform you immediately upon receipt of the shipping documents received from your supplier.
You can view the documents before paying for them. You need to pay only when you are satisfied that the shipping documents will enable you to take delivery of the goods.
If credit terms have been arranged with your supplier you will need to provide your acceptance or undertaking in order to take delivery of the goods.
EXPORTERS
Letter of Credit
For Exporters
As an exporter, a letter of credit gives you the assurance of receiving payment against your shipping documents which comply strictly with the terms and conditions stipulated in the letter of credit.
You must be able to comply with the terms and conditions and, in particular, avoid any discrepancies in your documentation. BRED’s trade advisors will be able to help you with this.
Collections
For Exporters
As the exporter, you will present your shipping documents to us for the collection of payments.
BRED will send your shipping documents to the buyer’s bank with specific instructions as to their release. You will maintain control over the goods until they are paid for, or until the buyer has given their undertaking or acceptance to pay at a future date.
BRED will keep track of your export collection until payment is received by BRED, at which time they will be credited to your account promptly. In the event of non-payment, BRED will inform you immediately.