Advance Payments

It is a method of international trade where the buyer places funds at the disposal of the seller before shipment of the goods/services are done. Payments are done within 24 hours after receipt of customer request.

  • Payment is made before goods are delivered to the buyer.
  • This method of payment is risky to the buyer as there is 100% exposure in the event of Seller’s non-performance.
  • Banks are involved only in the transfer of funds.
  • Less expensive as compared to Letters of credit.
  • Quick and secure means to transfer funds abroad.
  • Customers have access to foreign currency at very competitive rates.
  • Importers
  • Exporters
  • Visit any of our branches nationwide for an application form (Customer request).
  • Attach your Proforma invoice and Import Declaration Form (IDF).
  • Ensure there is sufficient funds in your account for the transfer.
  • NB: Customs Clearing Documents (Bill of Entry) to be submitted after goods cleared.