Trade finance

In partnership with our global network of overseas correspondent banks, we provide fast, reliable and secure import and export trade finance, such as:

Import-export letters of credit (LC)
Bills for collection
Bank guarantees/bonds
Shipping guarantee

Letters of credit (LC)
A letter of credit is a written undertaking from FTB, issued for you (the importer/buyer), in which FTB agrees to make a timely payment to your supplier, on your behalf, providing that they have submitted all documentation specified in the LC by an agreed date, and all submitted documents strictly adhere to the stipulations set out in the LC. This process ensures that you can proceed with your order knowing that payment will only be made when the bank is satisfied that the supplier has met all their obligations; in terms of quality control, quantity checks and customs clearance.

Bills for collection
FTB provides an export document remittance service for customers (the exporter/supplier) who are entering into sales contracts with overseas buyers. All relevant export and contractual documents are sent by FTB to a nominated correspondent bank in the buyer's country. We provide instructions to the correspondent bank to release these documents to your buyer only on sight of payment or the acceptance of a bill of exchange (draft). Following this transaction, the buyer may take delivery of goods.

Bank guarantees or bonds
A bank guarantee or bond is a written commitment from FTB to pay a sum of money, on your behalf, to a third party (the beneficiary) with whom you have entered into a contractual agreement. It is intended to reduce the financial risks to both parties in the event that a pre-specified incident prevents you from fulfilling your obligations under the terms of contract. The guarantee or bond will specify the exact terms under which a payment will be made and payment will be released only on receipt of either written demand for payment or the submission of document specified in the guarantee or bond.

Shipping guarantee
A shipping guarantee from FTB allows you, as an importer, to take possession of goods from a shipping company when the goods arrive at port and before you receive a bill of Lading. It is a written undertaking from FTB to the shipping company which is signed by you, the importer, and countersigned by a representative of FTB. It states that you are the owner of the goods and FTB indemnifies the shipping company if the bill of lading is not presented. Once a bill of lading is received, you forward it to the shipping company, redeem the shipping guarantee and return it to FTB. This process helps you avoid unnecessary port and warehouse charges caused by delays in clearing goods.




EXCHANGE RATE DATE: 30 Mar 2020​​​  

BUY  RATE 1 USD = 4,070
SELL RATE 1 USD = 4,095