Corporate and Investment Banking. Trading with confidence with bank guarantees

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Corporate and Investment Banking. Trading with confidence with bank guarantees"

Transcription

1 Corporate and Investment Banking Trading with confidence with bank guarantees 1

2 Bank Guarantees Standard Bank your trade partner in, for and across Africa Trading with confidence with bank guarantees Requesting bank guarantees in a commercial contract is a common practice in the market. In large-scale transactions, especially in international trade, it goes without saying that bank instruments that secure performance and payment obligations are a vital part of managing risk in business. When concluding contracts, it is prudent to partner with a bank that has the cross-border transactions expertise and knowledge of international trade to provide tailored solutions and sage advice. Among national and international banks, Standard Bank is a preferred trade bank with the client base and accolades to stand testimony to our capabilities. 3

3 Securing performance and payment obligations Through bank guarantees, Standard Bank provides you and your contracting parties with assurance, through a written undertaking, that if the terms and conditions of the contract are not met the bank will make certain payments on behalf of the contracting party. Standard Bank intervenes and provides you and counterparties with the assurance we will pay a predetermined amount of money in the event of default. When purchasing goods or services offshore, it is difficult to assess the potential expertise or financial prospects of your supplier of goods and services. For this reason, you should request your counterparties to provide a bank guarantee that the supplier will perform as agreed. Standard Bank facilitates the issuance of this guarantee to you through our widespread network of international banks, that covers where your counterparties are banked. Sellers of goods can also require you to provide guarantees to secure your payment obligations. Why Standard Bank? With over 150 years experience, representation in 20 countries in Africa and key financial centres, Standard Bank is best equipped to connect your company to Africa and to the world. We have well-established partnerships with banks in countries where we are not present to facilitate the issuance of guarantees where a local bank is required. However, Standard Bank guarantees are generally acceptable by beneficiaries world-wide. Our in-house specialists bring in-depth knowledge and experience to bear on all aspects of your international trade needs. These specialists have comprehensive knowledge and wide-ranging experience in different legal regimes in Africa. We support you with international best practices as outlined in the International Chamber of Commerce rules (ICC). With a guarantees book in our Africa operations in excess of R40 billion, Standard Bank has the scale and experience to issue guarantees in Africa and beyond. In choosing Standard Bank as your financial partner and guarantor bank, you can rest assured that your transactions are in good hands and you can trade with confidence. 4

4 Bank Guarantees Types of guarantees matched to your needs Standard Bank can advise on and issue guarantees on your behalf. We also provide guarantees to you on behalf of our international bank clients when requested by your clients. Tender guarantees Also known as a bid bond, a tender guarantee discourages companies from submitting tenders only to: withdraw from the tender before its expiry attempt to amend the tender refuse to sign the contract when awarded to them fail to furnish the required performance bond or other required guarantees. In helping you to secure the contract, we can issue these guarantees on your behalf when tendering for a contract where tender guarantees are required with tender documents. Performance bonds Once a tender has been awarded to you, you may be called to issue a performance guarantee to guarantee performance under the contract. Standard Bank can help you structure and issue a performance bond to satisfy the request of the company. Advance payment guarantees Following the award of a tender, you may require an advance payment before you commence the contract. In return, your client may require an advance payment guarantee. Standard Bank facilitates the issuance of this guarantee on your behalf, and also receive on your behalf the advance payment amounts to your accounts held with us. Retention guarantees A contract may permit your client to retain a certain percentage of payments due to you as security against latent defects on your workmanship. Standard Bank can issue this guarantee on your behalf so you have immediate release of retention money that would otherwise be withheld for the retention period. Warranty/maintenance guarantees This type of guarantee protects your client by covering the cost of any defect or malfunction that may manifest itself after the completion of the project. Standard Bank can help you structure and issue this guarantee to satisfy the requisite requirements. Facility guarantee While this is not normally trade-related, it provides security to another bank to advance money to a related company. It is often used when the company does not have any credit record and wishes to expand offshore. Standard Bank can issue this guarantee to the lending bank to support your related company when looking to borrow monies or for general credit facilities with a particular bank. Shipping guarantees and airway release guarantees This guarantee mitigates the risk of liability where shipping documents have been lost or delayed. 4 5

5 Standard Bank can issue this guarantee to indemnify a shipping company against any liability that may arise from releasing imported goods to the consignee without the documents of the title (bill of lading). Standby letter of credit This has similar wording to other documentary credits but includes the qualities of a demand guarantee as it provides you with security of payment in the event of default. Contact us for expert advice and information on guarantees in, for and Africa For further information on our products and services, contact: Standby letters of credit are predominantly used in the United States where banks are legally barred from issuing certain types of guaranties. We work with you on negotiating contracts and issuing guarantees to give you the edge in international trade Our Trade Sales Managers can advise you on the type of guarantee to meet your specific needs and assist you with wording the guarantee. This ensures that you enter into a contract with the backing of a bank with the experience and capability to help your business succeed. Disclaimer This document has been prepared solely for information purposes by The Standard Bank of South Africa Limited, acting through its Corporate and Investment Bank Division ( SBSA ). Any indicative terms provided to you are provided for your information and do not constitute an offer, a solicitation of an offer, invitation to acquire any security or to enter into any agreement, or any advice or recommendation to conclude any transaction (whether on the indicative terms or otherwise). Any information, indicative price quotations, disclosure materials or analyses provided to you have been prepared on assumptions and parameters that reflect good faith determinations by us or that have been expressly specified by you and do not constitute advice by us and it should not be relied upon as such. The information, assumptions and parameters used are not the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness, or reasonableness of any such information, quotations, disclosure or analyses. No representation or warranty is made that any indicative performance or return indicated will be achieved in the future. This document is not an official confirmation of terms, and any transaction that may be concluded pursuant to this document shall be in terms of and confirmed by the signing of appropriate documentation, on terms to be agreed between the parties. The information in the document is also subject to change without notice. SBSA, or an associated company, may have effected or may effect transactions for its own account in any investment outlined in the document or any investment related to such an investment. Prospective investors should obtain independent advice in respect of any product detailed in this document, as SBSA provides no investment, tax or legal advice and makes no representation or warranty about the suitability of a product for a particular client or circumstance. Transactions described in this material may give rise to substantial risk and are not suitable for all investors. SBSA will only provide investment advice if specifically agreed to by SBSA in appropriate documentation, signed by SBSA. This information is to be used at your own risks, and SBSA makes no representation with regards to the correctness of the information herein. Authorised financial services and registered credit provider (NCRCP15) The Standard Bank of South Africa Limited (Registered Bank) Reg. No. 1962/000738/06 SBSA /14 6

6 6

Parties to a guarantee. Direct guarantees

Parties to a guarantee. Direct guarantees Guarantees The request for bank guarantees in support of contractual obligations has become common practice in the market and different forms of guarantees have evolved to cater for the diverse types of

More information

Corporate and Investment Banking. Open Account Trade Finance Solutions

Corporate and Investment Banking. Open Account Trade Finance Solutions Corporate and Investment Banking Open Account Trade Finance Solutions Open Account Trade Finance Solutions Standard Bank your trade partner in, for and across Africa Open Account Trade Finance Solutions

More information

Corporate and Investment Banking. Risk-based solutions to support trade finance for global financial institutions in Africa

Corporate and Investment Banking. Risk-based solutions to support trade finance for global financial institutions in Africa Corporate and Investment Banking Risk-based solutions to support trade finance for global financial institutions in Africa Solutions to support trade finance Standard Bank your trade partner in, for and

More information

Corporate and Investment Banking. Trading in Chinese Renminbi

Corporate and Investment Banking. Trading in Chinese Renminbi Corporate and Investment Banking Trading in Chinese Renminbi Trading in Chinese Renminbi Standard Bank your trade partner in, for and across Africa Trade and payment solutions using renminbi As China-Africa

More information

LECTURE NO.8 THE ROLE OF GUARANTEES AND BONDS IN INTERNATIONAL TRADE

LECTURE NO.8 THE ROLE OF GUARANTEES AND BONDS IN INTERNATIONAL TRADE LECTURE NO.8 THE ROLE OF GUARANTEES AND BONDS IN INTERNATIONAL TRADE A guarantor issues a guarantee or bond, usually a bank or an insurance company, on behalf of an exporter. It is a guarantee to the buyer

More information

your automated e-trading solution

your automated e-trading solution Corporate and Investment Banking Global Foreign Exchange emarkettrader pic emarkettrader your automated e-trading solution Your answer to faster and more cost-effective trading Not since the advent of

More information

Basic Investment Course

Basic Investment Course Page 1: Basic Investment Course Basic Investment Course brought to you by Standard Bank Online Share Trading Unit 2: Dividends www.securities.co.za Page 2: Basic Investment Course Content Page Unit 1:

More information

Investors on the JSE Limited have recently been able to invest in an exciting new type of financial product known as Share Instalments.

Investors on the JSE Limited have recently been able to invest in an exciting new type of financial product known as Share Instalments. Instalments pic Investors on the JSE Limited have recently been able to invest in an exciting new type of financial product known as Instalments. What are Instalments? Instalments are instruments that

More information

Corporate and Investment Banking AfricaPalladium, AfricaPlatinum and AfricaGold Exchange Traded Funds Fact Sheet

Corporate and Investment Banking AfricaPalladium, AfricaPlatinum and AfricaGold Exchange Traded Funds Fact Sheet Corporate and Investment Banking AfricaPalladium, AfricaPlatinum and AfricaGold Exchange Traded Funds Fact Sheet AfricaPalladium, AfricaPlatinum and AfricaGold Exchange Traded Funds AfricaPalladium ETF

More information

Bank Guarantees in International Trade

Bank Guarantees in International Trade Bank Guarantees in International Trade Table of contents Preface.................................................... 3 Acknowledgement.......................................... 4 Introduction...............................................

More information

Guide to importing and exporting

Guide to importing and exporting Guide to importing and exporting September 2011 Version 41 Table of contents Introduction 4 We have the solutions for your needs...4 Important Information...4 Getting started 5 What do I do first?...5

More information

After studying this chapter you should be able to understand: 8.1 The role of guarantees and bonds in international trade

After studying this chapter you should be able to understand: 8.1 The role of guarantees and bonds in international trade GUARANTEES OR BONDS Objectives After studying this chapter you should be able to understand: 8.1 The role of guarantees and bonds in international trade 8.2 Bonds: definition, parties involved, elements,

More information

INTERNATIONAL PAYMENT METHODS

INTERNATIONAL PAYMENT METHODS S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L INTERNATIONAL PAYMENT METHODS Broward Economic and Small Business Development Export Readiness Semiar February, 2012 Abby Martinez Vice President

More information

Business Online Information Security

Business Online Information Security Business Online Information Security pic Reducing your risk and ensuring your information is secure Due to the nature of the transactions you perform using the Business Online service, it is important

More information

Financial Instruments

Financial Instruments There are two basic forms of Letters of Credit: Standby (SBLC) and Documentary (DLC). Financial Instruments Documentary Letters of Credit can be either Revocable or Irrevocable, although the first is extremely

More information

TRAINING COURSE ON SURETY BONDS

TRAINING COURSE ON SURETY BONDS TRAINING COURSE ON SURETY BONDS Global Solutions SURETY BONDS OVERVIEW Construction is a risky business. Surety bonds are essential tools for contractors which need to compete effectively for tenders,

More information

FAQs Trade Finance. ecobank.com

FAQs Trade Finance. ecobank.com FAQs Trade Finance ecobank.com TRADE FINANCE FAQS Q. What are the products used by banks in international trade? A. Cheques, transfers, bill of exchange, documentary bill, documentary collection, letter

More information

PARTICIPATION AGREEMENT. GlobalDairyTrade operates the Trading Platform known as GlobalDairyTrade to facilitate sales of certain dairy Products.

PARTICIPATION AGREEMENT. GlobalDairyTrade operates the Trading Platform known as GlobalDairyTrade to facilitate sales of certain dairy Products. GLOBALDAIRYTRADE Global Dairy Trade Holdings Limited 23 Customs Street East Auckland 1010, New Zealand Paul Grave Director GlobalDairyTrade GlobalDairyTrade operates the Trading Platform known as GlobalDairyTrade

More information

Only by combining all the right elements do you get the best investment results.

Only by combining all the right elements do you get the best investment results. Only by combining all the right elements do you get the best investment results. BUSINESS BANKING 1 Nedbank Business Banking offers a full range of financial and advisory services to large and medium-sized

More information

Export Payment Options. Explore Export Cardiff 2015

Export Payment Options. Explore Export Cardiff 2015 Export Payment Options Explore Export Cardiff 2015 The world is changing fast Source: Financial Markets 3 The benefits of exporting The opportunity currently, only about 20 per cent of UK SMEs export.

More information

Corporate and Investment Banking. Open Account Trade and Supply Chain Financing Solutions for Sellers

Corporate and Investment Banking. Open Account Trade and Supply Chain Financing Solutions for Sellers Corporate and Investment Banking Open Account Trade and Supply Chain Financing Solutions for Sellers Standard Bank your trade partner in, for and across Africa Open Account Trade and Supply Chain Financing

More information

Frequently Asked Questions Trade Services

Frequently Asked Questions Trade Services Frequently Asked Questions Trade Services IMPORT LETTER OF CREDIT What are the various forms of Import Services? (Payment instruments) in International Trade? There are two main options: Letter of Credit

More information

Fiskars is one of SEB:s customers. The photo shows some of Fiskars range. Bank Guarantees

Fiskars is one of SEB:s customers. The photo shows some of Fiskars range. Bank Guarantees Fiskars is one of SEB:s customers. The photo shows some of Fiskars range. Bank Guarantees Bank guarantees On the following pages we shall go into more detail presenting the various parties in a guarantee

More information

APPENDIX FOR U.S. SECURITIES TRADING

APPENDIX FOR U.S. SECURITIES TRADING APPENDIX FOR U.S. SECURITIES TRADING This Appendix applies in respect of securities trading services in U.S. Securities provided by ICBCIS to the Client. In the event that there is any inconsistency between

More information

Maturity The date where the issuer must return the principal or the face value to the investor.

Maturity The date where the issuer must return the principal or the face value to the investor. PRODUCT INFORMATION SHEET - BONDS 1. WHAT ARE BONDS? A bond is a debt instrument issued by a borrowing entity (issuer) to investors (lenders) in return for lending their money to the issuer. The issuer

More information

location of optional horizontal pic Corporate and Investment Banking Business Online Information Security

location of optional horizontal pic Corporate and Investment Banking Business Online Information Security location of optional horizontal pic Corporate and Investment Banking Business Online Information Security Business Online Information Security Risk reduction: Ensuring your sensitive information is secure

More information

OVERSEAS TRADE FINANCE ( OTF )

OVERSEAS TRADE FINANCE ( OTF ) OVERSEAS TRADE FINANCE ( OTF ) Port to Port Trade Finance Trade Finance Equity Trade Finance Report 3 Port to Port Trade Finance Trade Finance Equity Overseas Trade Finance specialise in sourcing trade

More information

NC General Statutes - Chapter 54B Article 12 1

NC General Statutes - Chapter 54B Article 12 1 Article 12. Mutual Deposit Guaranty Associations. 54B-236. Definitions. The term "institution" as used in this Article shall mean savings and loan associations organized or operated under the provisions

More information

THE USE OF CONSTRUCTION BONDS IN THE USA FLANDERS INVESTMENT & TRADE MARKET SURVEY

THE USE OF CONSTRUCTION BONDS IN THE USA FLANDERS INVESTMENT & TRADE MARKET SURVEY THE USE OF CONSTRUCTION BONDS IN THE USA FLANDERS INVESTMENT & TRADE MARKET SURVEY In the United States, the use of construction bonds is common in construction projects. It is issued by an insurance company

More information

TERMS AND CONDITIONS OF SALE. Quotations, Purchase Orders, Acknowledgements, Packing Lists/Slips, Invoices & Credits

TERMS AND CONDITIONS OF SALE. Quotations, Purchase Orders, Acknowledgements, Packing Lists/Slips, Invoices & Credits Quotations, Purchase Orders, Acknowledgements, Packing Lists/Slips, Invoices & Credits All quotations of Seller ( Quotations ) and purchase orders of Buyer ( Purchase Orders ) shall be subject to these

More information

Telegraphic transfers and bank drafts

Telegraphic transfers and bank drafts Telegraphic transfers and bank drafts Businesses and individuals frequently need to transfer funds abroad in payment of goods or services provided by an overseas supplier. These transfers are a convenient

More information

ICC UNIFORM RULES FOR CONTRACT BONDS

ICC UNIFORM RULES FOR CONTRACT BONDS ICC UNIFORM RULES FOR CONTRACT BONDS issued as ICC publication No. 524, adopted by the ICC Executive Board on 23 April 1993, come into effect on 1 January 1994 Copyright 1993 International Chamber of Commerce.

More information

Prudential Practice Guide

Prudential Practice Guide Prudential Practice Guide APG 112 Standardised Approach to Credit Risk January 2008 www.apra.gov.au Australian Prudential Regulation Authority Disclaimer and copyright This prudential practice guide is

More information

SECTION 00900 PERFORMANCE BOND., hereinafter called PRINCIPAL, and

SECTION 00900 PERFORMANCE BOND., hereinafter called PRINCIPAL, and SECTION 00900 PERFORMANCE BOND KNOW ALL PERSONS BY THESE PRESENTS: THAT (Name or Contractor) a (Address of Contractor) (Corporation, Partnership, or Individual), hereinafter called PRINCIPAL, and (Name

More information

Invitation to tender for Specialist Business Support Services

Invitation to tender for Specialist Business Support Services Invitation to tender for Specialist Business Support Services Background The University of Brighton s Green Growth Platform wishes to appoint a number of service providers to enter into a Framework Agreement

More information

Guarantee and Performance Bonds

Guarantee and Performance Bonds Construction Guarantee and Performance Bonds Allianz Guarantee Information for Contractors, Sub-Contractors and their Advisers Allianz is a leading global insurer and the market leader in the provision

More information

AUSTRALIAN SURETY SOCIETY - SUBMISSION

AUSTRALIAN SURETY SOCIETY - SUBMISSION AUSTRALIAN SURETY SOCIETY - SUBMISSION The Secretary Parliamentary Joint Statutory Committee on Corporations and Securities Parliament House CANBERRA ACT 2600 corporations.joint@aph.gov.au 20 th April,

More information

Online Share Trading Currency Futures

Online Share Trading Currency Futures Online Share Trading Currency Futures Wealth warning: Trading Currency Futures can offer significant returns BUT also subject you to significant losses if the market moves against your position. You may,

More information

GENERAL RULES FOR INTERNATIONAL FACTORING

GENERAL RULES FOR INTERNATIONAL FACTORING GRIF GENERAL RULES FOR INTERNATIONAL FACTORING 03/10/2011 GRIF General Rules for International Factoring Page 2 of 20 TABLE OF CONTENTS SECTION I General provisions... 4 Article 1 Factoring contracts and

More information

Small and Medium Enterprises

Small and Medium Enterprises Small and Medium Enterprises YOUR LOANS Small and Medium Enterprises Financing Products for Your Business A consumer education programme by: contents 1 Introduction 2 The right product for the right purpose

More information

CHINA INNOVATIVE FINANCE GROUP LIMITED 中 國 新 金 融 集 團 有 限 公 司

CHINA INNOVATIVE FINANCE GROUP LIMITED 中 國 新 金 融 集 團 有 限 公 司 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness

More information

GENERAL RULES FOR INTERNATIONAL FACTORING

GENERAL RULES FOR INTERNATIONAL FACTORING GRIF GENERAL RULES FOR INTERNATIONAL FACTORING 08/10/2013 GRIF General Rules for International Factoring Page 2 of 21 GRIF General Rules for International Factoring Page 3 of 21 TABLE OF CONTENTS SECTION

More information

Example of an application to HMRC for an advance assurance

Example of an application to HMRC for an advance assurance Example of an application to HMRC for an advance assurance DISCLAIMER: The information set out in this document is included for information purposes only and is not an offer or an invitation to buy or

More information

Sanlam itrade CFD Brochure

Sanlam itrade CFD Brochure Sanlam itrade CFD Brochure What are CFDs? In a nutshell a CFD (Contract For Difference) is an unlisted instrument that is an agreement between a buyer and a seller to exchange the difference in value of

More information

Al-Saudia Virtual Academy Pakistan Online Tuition Online Tutor Pakistan

Al-Saudia Virtual Academy Pakistan Online Tuition Online Tutor Pakistan Al-Saudia Virtual Academy Pakistan Online Tuition Online Tutor Pakistan LETTERS OF CREDIT Introduction: As the world s economy expanded, international trade started. In the beginning, there were serious

More information

Return completed applications to: APAC-Texas, Inc. P.O. Box 20779 Beaumont, TX 77720 (409) 866-1444 Phone (409) 866-5541 Fax

Return completed applications to: APAC-Texas, Inc. P.O. Box 20779 Beaumont, TX 77720 (409) 866-1444 Phone (409) 866-5541 Fax Return completed applications to: APAC-Texas, Inc. P.O. Box 20779 Beaumont, TX 77720 (409) 866-1444 Phone (409) 866-5541 Fax APPLICATION FOR BUSINESS CREDIT Date: NOTE: This application for Business Credit

More information

Terms and Conditions for Tax Services

Terms and Conditions for Tax Services Terms and Conditions for Tax Services In the course of delivering services relating to tax return preparation, tax advisory, and assistance in tax controversy matters, Brady, Martz & Associates, P.C. (we

More information

Agreement with Contractor for

Agreement with Contractor for (Form-9) Agreement with Contractor for THIS AGREEMENT (hereinafter, together with the appendices and all the documents annexed hereto and forming an integral part hereof, referred to as the Contract )

More information

Exclusive Offering Memorandum

Exclusive Offering Memorandum 135 West Wells Street, Suite 200 Milwaukee, WI 53203 www.prowesscommercial RealEstate.com Exclusive Offering Memorandum Presented By: Josh Manchester Direct: 414-899-3155 Josh.Manchester@ProwessCRE.com

More information

Online Share Trading Currency Futures

Online Share Trading Currency Futures Online Share Trading Currency Futures pic Currency Futures Introduction Currency futures contracts can be hard-working additions to any investor s or trader s portfolio. They provide a way to hedge the

More information

ISO20022 Trade Services Dashboard Description of business processes. ISO20022 - Trade Services Description of Business Processes

ISO20022 Trade Services Dashboard Description of business processes. ISO20022 - Trade Services Description of Business Processes ISO20022 Trade Services Dashboard Description of business processes 1 Trade Services Description of Procurement: Sub-Functions Tendering Ordering Delivering Invoicing Process for buyer to contact potential

More information

Chambers Bank Business Internet Banking Agreement

Chambers Bank Business Internet Banking Agreement Chambers Bank Business Internet Banking Agreement 1. INTRODUCTION. Chambers Bank Business Online Banking is a banking and information service that allows its Business Banking clients, via the Internet,

More information

FCI GENERAL RULES FOR INTERNATIONAL FACTORING (Printed July 2013)

FCI GENERAL RULES FOR INTERNATIONAL FACTORING (Printed July 2013) FCI GENERAL RULES FOR INTERNATIONAL FACTORING (Printed July 2013) TABLE OF CONTENTS SECTION I Article 1 Article 2 Article 3 Article 4 Article 5 Article 6 Article 7 Article 8 Article 9 Article 10 Article

More information

Transport Insurance for International trade

Transport Insurance for International trade Transport Insurance for International trade 1) International trade insurance indemnifies importers and exporters against various types of losses, including damage to goods in transit, products injuring

More information

Application for Business Credit

Application for Business Credit Application for Business Credit NOTE: This Application for Business Credit is to be used in connection with commercial or business purposes only, and not for the purchase of personal, family or household

More information

Global Transaction Services

Global Transaction Services Global Transaction Services Cash Management Trade Services and Finance Securities and Fund Services Maximizing the Benefits of Export Letters of Credit: A Risk Mitigation Tool William E. Morrissey Director

More information

SURETY. and Title: (Any additional signatures appear on the last page of this Performance Bond.)

SURETY. and Title: (Any additional signatures appear on the last page of this Performance Bond.) Performance Bond Document A312 2010 CONTRACTOR: (Name, legal status and address) SURETY: (Name, legal status and principal place of business) OWNER: (Name, legal status and address) CONSTRUCTION CONTRACT

More information

ARCH CAPITAL ADVISORS

ARCH CAPITAL ADVISORS ARCH CAPITAL ADVISORS TERM SHEET Mezzanine Debt This term sheet does not constitute an offer and is solely for discussion purposes. This term sheet shall not be construed as creating any obligations on

More information

Content. Executive Summary. What is a CFD? Who are the participants? Advantages of trading CFDs. Features and benefits of CFDs. Reasons for using CFDs

Content. Executive Summary. What is a CFD? Who are the participants? Advantages of trading CFDs. Features and benefits of CFDs. Reasons for using CFDs Corporate Retail Contracts and Investment for Difference Banking Content Executive Summary What is a CFD? Who are the participants? Advantages of trading CFDs Features and benefits of CFDs Reasons for

More information

Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf

Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf Ipx!up!hfu!uif Dsfeju!zpv!Eftfswf Credit is the lifeblood of South Louisiana business, especially for the smaller firm. It helps the small business owner get started, obtain equipment, build inventory,

More information

Global Transaction Services

Global Transaction Services Global Transaction Services Cash Management Trade Services and Finance Securities Services Fund Services Assuring Quick Payments under Export Letters of Credit February 28, 2007 These materials are provided

More information

FORFAITING A USER'S GUIDE WHAT IT IS, WHO USES IT AND WHY?

FORFAITING A USER'S GUIDE WHAT IT IS, WHO USES IT AND WHY? FORFAITING A USER'S GUIDE WHAT IT IS, WHO USES IT AND WHY? By: John F Moran, Jr. Abstract Italian and West German exporters have long been familiar with Forfaiting and still provide the bulk of the market.

More information

LS No. 2 2011 ACT. Sierra Leone. No. Public Debt Management Act 2010. SIGNED this 14th day of March, 2011. DR. ERNEST BAI KOROMA, President.

LS No. 2 2011 ACT. Sierra Leone. No. Public Debt Management Act 2010. SIGNED this 14th day of March, 2011. DR. ERNEST BAI KOROMA, President. No. Public Debt Management Act 2010 ACT Supplement to the Sierra Leone Gazette Vol. CXLII, No. 13 dated 24th March, 2011 SIGNED this 14th day of March, 2011. DR. ERNEST BAI KOROMA, President. LS No. 2

More information

Corporate and Investment Banking. Global Markets Quantum PLUS South Africa

Corporate and Investment Banking. Global Markets Quantum PLUS South Africa Corporate and Investment Banking Global Markets Quantum PLUS South Africa Contents Quantum PLUS SA offering: a South African Rand Investment Opportunity? 3 Quantum PLUS SA 4 Who should invest in this product?

More information

B. Uniform Rules for Contract Bonds (URCB): Report of the Secretary-General (A/CN.9/478) [Original: English]

B. Uniform Rules for Contract Bonds (URCB): Report of the Secretary-General (A/CN.9/478) [Original: English] 594 Yearbook of the United Nations Commission on International Trade Law, 2000, vol. XXXI B. Uniform Rules for Contract Bonds (URCB): Report of the Secretary-General (A/CN.9/478) [Original: English] 1.

More information

GRANTS PASS SCHOOL DISTRICT INDEPENDENT CONTRACTOR AGREEMENT DATE: 9 /8 /2015

GRANTS PASS SCHOOL DISTRICT INDEPENDENT CONTRACTOR AGREEMENT DATE: 9 /8 /2015 GRANTS PASS SCHOOL DISTRICT INDEPENDENT CONTRACTOR AGREEMENT DATE: 9 /8 /2015 SECTION 1. IDENTITY OF INDEPENDENT CONTRACTOR This Agreement is between Grants Pass School District Number 7 (hereinafter District

More information

Basic Investment Course

Basic Investment Course Page 1: Basic Investment Course Basic Investment Course brought to you by Standard Bank Online Share Trading Unit 3: Why should I invest in shares? www.securities.co.za Page 2: Basic Investment Course

More information

Bank Payment Obligations (BPOs) Basics for Corporates

Bank Payment Obligations (BPOs) Basics for Corporates Bank Payment Obligations (BPOs) Basics for Corporates What you need to know in order to start replacing Standby Letters of Credit and/or Documentary Letters of Credit (LCs) with the BPO or BPO-Plus process

More information

ZOETIS STANDARD TERMS AND CONDITIONS

ZOETIS STANDARD TERMS AND CONDITIONS Page 1 of 6 ZOETIS STANDARD TERMS AND CONDITIONS INTERPRETATION AND DEFINITIONS : "the Purchase Order" means Zoetis's relevant order for the supply of Goods and/or Services by the Seller. the Buyer means

More information

Invest on the JSE Tax Free!* Tax Free Savings and Investment Account. provided by SBG Securities Proprietary Limited

Invest on the JSE Tax Free!* Tax Free Savings and Investment Account. provided by SBG Securities Proprietary Limited Invest on the JSE Tax Free!* Tax Free Savings and Investment Account provided by SBG Securities Proprietary Limited Introduction SBG Securities Proprietary Limited (SBG Sec)** has launched a Tax Free Savings

More information

Global Transaction Services

Global Transaction Services UCP 600 Part I Global Transaction Services Cash Management Trade Services and Finance Securities Services Fund Services UCP 600 Understanding & Application Part I Victor Pena Vice President Americas Regional

More information

PAYMENTS SYSTEM IN NIGERIAN INTERNATIONAL TRADE

PAYMENTS SYSTEM IN NIGERIAN INTERNATIONAL TRADE A FirstBank Presentation PAYMENTS SYSTEM IN NIGERIAN INTERNATIONAL TRADE An Overview Presented by the Group Managing Director. 26 November 2012. Introduction Payment Systems To succeed in today s global

More information

(refer AGN 112.1 Standardised Approach to Credit Risk: Riskweighted

(refer AGN 112.1 Standardised Approach to Credit Risk: Riskweighted Guidance Note AGN 112.2 Standardised Approach to Credit Risk: Risk-weighted Off-balance Sheet Credit Exposures 1. This Guidance Note and its Attachments set out the procedures and requirements for calculating

More information

Contract Standing Orders

Contract Standing Orders Internal Audit Report Chapter 26 Contract Standing Orders 1 Internal Audit Report Section Item INDEX 1 Introduction 2 Definitions 3 Responsibilities 4 Authorities 5 Exceptions 6 Procurement Rules 6.1 EC

More information

BAFT-IFSA Product Definitions for Traditional Trade Finance Publication Date: May 2011

BAFT-IFSA Product Definitions for Traditional Trade Finance Publication Date: May 2011 BAFT-IFSA BAFT-IFSA Product Definitions for Traditional Trade Finance Publication Date: May 2011 1 BAFT-IFSA Product Definitions for Traditional Trade Finance Section 1: Introduction Banks have long provided

More information

Terms and Conditions of Offer and Contract (Works & Services) Conditions of Offer

Terms and Conditions of Offer and Contract (Works & Services) Conditions of Offer Conditions of Offer A1 The offer documents comprise the offer form, letter of invitation to offer (if any), these Conditions of Offer and Conditions of Contract (Works & Services), the Working with Queensland

More information

TRANSPORTATION SERVICES AGREEMENT

TRANSPORTATION SERVICES AGREEMENT TRANSPORTATION SERVICES AGREEMENT This Transportation Services Agreement (the AGREEMENT") is entered into by ( Customer ) and between Company shall mean RSI Relo, Inc., Relocation Services International,

More information

PURCHASE ORDER TERMS AND CONDITIONS

PURCHASE ORDER TERMS AND CONDITIONS PURCHASE ORDER TERMS AND CONDITIONS This purchase order is subject to the following terms and conditions. The terms and conditions herein set forth constitute an offer by Purchaser and may be accepted

More information

AIA Document A312 - Electronic Format. Performance Bond

AIA Document A312 - Electronic Format. Performance Bond AIA Document A312 - Electronic Format Performance Bond THIS DOCUMENT HAS IMPORTANT LEGAL CONSEQUENCES: CONSULTATION WITH AN ATTORNEY IS ENCOURAGED WITH RESPECT TO ITS COMPLETION OR MODIFICATION. AUTHENTICATION

More information

NewWave GBP Currency ETN

NewWave GBP Currency ETN Price Corporate and Investment Banking NewWave GBP Currency ETN Valuation Date 31 December 2015 NewWave Exchange Traded Notes (ETNs) constitute unconditional, unsecured and unsubordinated obligations of

More information

INTERNATIONAL TRADE FINANCE SERVICES

INTERNATIONAL TRADE FINANCE SERVICES INTERNATIONAL TRADE FINANCE SERVICES DOCUMENTARY LETTERS OF CREDIT A PRACTICAL GUIDE CONTENTS LETTERS OF CREDIT SIMPLY DEFINED.............................................2 BENEFITS OF A LETTER OF CREDIT...............................................3

More information

FCI GENERAL RULES FOR INTERNATIONAL FACTORING (Printed June 2010)

FCI GENERAL RULES FOR INTERNATIONAL FACTORING (Printed June 2010) FCI GENERAL RULES FOR INTERNATIONAL FACTORING (Printed June 2010) TABLE OF CONTENTS SECTION I Article 1 Article 2 Article 3 Article 4 Article 5 Article 6 Article 7 Article 8 Article 9 Article 10 Article

More information

Line of Credit Agreement

Line of Credit Agreement Line of Credit Agreement Document 2035B Access to this document and the LeapLaw web site is provided with the understanding that neither LeapLaw Inc. nor any of the providers of information that appear

More information

CORPORATE ACCOUNT. ...we make the difference

CORPORATE ACCOUNT. ...we make the difference CORPORATE ACCOUNT CORPORATE ACCOUNT GUIDE TO OPENING YOUR ACCOUNT Please complete all the relevant portions of the Application Form and Account Opening mandate and return the package along with the following

More information

THE WORKING CAPITAL CYCLE IN INTERNATIONAL TRADE

THE WORKING CAPITAL CYCLE IN INTERNATIONAL TRADE THE WORKING CAPITAL CYCLE IN INTERNATIONAL TRADE Introduction The working capital cycle is the period of time which elapses between the points at which cash is used in the supply/production process, to

More information

Chase Surety Bond Facility Application Form

Chase Surety Bond Facility Application Form Chase Surety Bond Facility Application Form Supporting Information Required Information required Details of information required Attached Last three (3) years The last three (3) years financial statements

More information

Understanding the Risks of Standby LCs

Understanding the Risks of Standby LCs Understanding the Risks of Standby LCs Global Transaction Services Cash Management Trade Services and Finance Securities and Fund Services Understanding the Risks of Standby Letters of Credit and Guarantees

More information

Introduction to the contractual aspects of the BPO

Introduction to the contractual aspects of the BPO Introduction to the contractual aspects of the BPO August 2014 SWIFT s Corporate and Supply Chain team supplychain@swift.com Agenda BPO impacts on contracts Corporate-to-corporate space Corporate-to-bank

More information

Website terms and conditions

Website terms and conditions Website terms and conditions Thank you for visiting our website. Before you go any further, it is important that you read and understand the conditions under which you will be using this site. Acceptance

More information

Kentucky Department of Education Version of Document A312 2010

Kentucky Department of Education Version of Document A312 2010 Kentucky Department of Education Version of Document A312 2010 Performance Bond CONTRACTOR: (Name, legal status and address) SURETY: (Name, legal status and principal place of business) OWNER: (Name, legal

More information

Australian Standard. General conditions of contract for design and construct. AS 4300 1995 (Incorporating Amendment No. 1)

Australian Standard. General conditions of contract for design and construct. AS 4300 1995 (Incorporating Amendment No. 1) AS 4300 1995 (Incorporating Amendment No. 1) Australian Standard General conditions of contract for design and construct This Australian Standard was prepared by Committee OB/3, General Conditions of Contract.

More information

YIELD X CURRENCY FUTURES BROCHURE JUNE 2009

YIELD X CURRENCY FUTURES BROCHURE JUNE 2009 1 YIELD X CURRENCY FUTURES BROCHURE JUNE 2009 2 Currency Futures for corporate clients The Currency Futures market on the JSE was implemented in order to further develop South Africa s financial markets

More information

ASX OPERATING RULES GENERAL OBLIGATIONS... 303 ORDERLY TRADING... 303

ASX OPERATING RULES GENERAL OBLIGATIONS... 303 ORDERLY TRADING... 303 ASX OPERATING RULES SECTION 3 TRADING RULES GENERAL OBLIGATIONS... 303 ORDERLY TRADING... 303 Fair and orderly markets... 303 Technical failure... 304 Communications with a Trading Platform... 304 Efficiency

More information

SCHOOL BOARD DIRECT PURCHASES

SCHOOL BOARD DIRECT PURCHASES SCHOOL BOARD DIRECT PURCHASES Whereas the District School Board of Pasco County desires to take advantage of its tax exempt status, and is willing to cooperate in fulfilling this desire, this agreement

More information

Authorised Dealers may only effect foreign currency payments for imports against the following documentation:

Authorised Dealers may only effect foreign currency payments for imports against the following documentation: B.1 Payment for imports (A) Import permits Authorised Dealers must advise importers that they must ensure that a covering import permit issued by ITAC, is available or is not required, prior to processing

More information

ACCOUNT OPENING FORM. CUSTOMER INFORMATION (Please fill in where applicable) Customer Name Registration N BRN: Registration Date

ACCOUNT OPENING FORM. CUSTOMER INFORMATION (Please fill in where applicable) Customer Name Registration N BRN: Registration Date ACCOUNT OPENING FORM Domestic Company Global Business / International Company / Investment Fund Parastatal Body Club / Association Societe / Partnership FOR OFFICE USE ONLY CIF NO. ACCOUNT NUMBER/S CUSTOMER

More information

2018-04 SEK ING Sprinter Sverige ING Bank NV (NL) 20 Units Outperformance Bonus Certificates linked to OMX due 2018-04

2018-04 SEK ING Sprinter Sverige ING Bank NV (NL) 20 Units Outperformance Bonus Certificates linked to OMX due 2018-04 2018-04 SEK ING Sprinter Sverige ING Bank NV (NL) 20 Units Outperformance Bonus Certificates linked to OMX due 2018-04 Product Description This 5YR SEK Outperformance Bonus Certificate is linked to the

More information

The Trust Deed is dated 30 August 2012. The Trust Deed is between the Issuer and the Trustee and provides for the following:

The Trust Deed is dated 30 August 2012. The Trust Deed is between the Issuer and the Trustee and provides for the following: Summary 1 Trust Deed The Trust Deed is dated 30 August 2012. The Trust Deed is between the Issuer and the Trustee and provides for the following: 1.1 Issue of PERLS VI The Issuer may issue PERLS VI to

More information

Corporate and Investment Banking. Open Account Trade and Supply Chain Financing Solutions for Buyers

Corporate and Investment Banking. Open Account Trade and Supply Chain Financing Solutions for Buyers Corporate and Investment Banking Open Account Trade and Supply Chain Financing Solutions for Buyers Standard Bank your trade partner in, for and across Africa Open Account Trade and Supply Chain Financing

More information