|
The Bank's commercial credit facilities include the following:
-
Overdraft Facilities (OD)/ Temporary ODs;
-
Documentary Letters of Credit (LC);
-
Bank Guarantees;
-
Advance Mobilization Guarantees;
-
Short/Medium Term Loans
|
| The Bank grants Overdraft Facilities (ODs) of
varying amounts for periods between one (1) and twelve (12) months. An
overdraft facility allows customer to overdraw their accounts to the tune of
the approved limits. ODs may be granted to meet working capital needs or short
term financing needs.
|
| LCs are guaranteed means of receiving and
making payments for exported and imported goods to and from abroad. If we
establish an LC for you as an Exporter, we are guaranteeing that we will
collect the proceeds of your sales from your buyers abroad through our reliable
network of Correspondent Banks. If you are an Importer, we will be guaranteeing
your suppliers abroad that payment for goods supplied to you is secure.
|
|
Advance mobilization Guarantees allow contractors and other businesses involved
in executing contracts to obtain advance payments of between 10 and 15% of
total contract sum to enable them to begin the execution of such projects.
|
| The Bank issues Bonds such as Bid Security/
Bond, Performance Bond; Removal and Premises Bonds and other forms of bonds
depending on the needs of customers. |
| The Bank offers Guarantees to enable customers
acquire goods, buy equipment or draw down loans for the expansion of business
activity. |
