Export Payment Options. Explore Export Cardiff 2015
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1 Export Payment Options Explore Export Cardiff 2015
2 The world is changing fast Source: Financial Markets 3
3 The benefits of exporting The opportunity currently, only about 20 per cent of UK SMEs export. The domestic market is declining. Businesses are generally becoming more international. Access to growing markets which do not exist domestically. Exporting improves the potential for long-term survival and prosperity. 44 per cent of firms say exporting significantly improved their profile or credibility. Exporters are consistently more profitable than domestic businesses. Source: UKTI (UK Trade & Investment part of HMG) 4
4 Unlocking the potential 5
5 Unlocking the potential our response A straightforward approach to understanding your international trade needs. Secure cash flow Getting paid and managing suppliers Get what you expect Receiving the cash you expected in the UK Accelerate cash flow Funding gaps and the timing of cash flow 6
6 Supporting your international trading needs Specialist working relationships Secure cash flow Getting paid and managing suppliers Accelerate cash flow Funding gaps and the timing of cash flow Robust credit control Debtor protection Cash flow for growth Multi-currency sales ledgers Trade finance Debtor Finance Get what you expect Receiving the cash you expected in the UK Protection for your Foreign Exchange (FX) exposure Convenient currency account for managing cash flow International payments facilities online Secure deposits at attractive rates 7
7 What s included in the price? International Commercial Terms or INCOTERMS Drawn up by - International Chamber of Commerce - ICC and recognised worldwide Defines responsibility of Buyer and Seller: Who Pays the freight Who pays insurance / where responsibility for cargo passes Who is responsible of any Import / Export Duties Different terms can apply some are only used for Maritime transport See Lloyds Bank website for an International Business Guide which includes a section on Incoterms EXW, FCA, CPT, CIP, DAT, DAP, DDP FAS, FOB, CFR, CIF For those that prefer pictures. 8
8 9
9 Methods of Payment - Risk League Table Buyer Risk Low High Open account Collections Letters of Credit Payments in Advance High Low Seller Risk
10 Methods Of Payment 1. Open Account you invoice they pay 2. Collections you ship and send invoice and trade documents to your Bank. They send to Buyers bank. Trade documents released against payment OR acceptance. 3. Letter of Credit A bank guarantee of payment issued by buyers bank. Conditional on presentation of compliant documents, within validity period. 4. Payment in Advance they pay you ship. 11
11 Methods of Payment Making sure you get paid Letter of Credit Bank and Country Risk - Confirmation Debtor Insurance (OECD countries) UKEF EXIP policy (more difficult countries) 12
12 Methods Of Payment 1. Trading in Europe? SEPA DD Single European Payment Area direct debit Collect Euro payments due from Bank accounts in any European country. 2. Trading in USA? Beware additional costs Check collection and Negotiation Consider a Lock Box 3. Charges options for International Payments BEN, SHA, OUR 13
13 SUPPORTING INTERNATIONAL TRADE EFFICIENT BANK SOLUTIONS Our products and services are designed to make international trade as smooth as possible. 100% Efficiency Security Informatio of transactions are processed in the UK. International accounts: Euro accounts for businesses trading in Euros. Foreign currency accounts for businesses making transactions in foreign currencies. Currency loans for trading internationally. To help you trade more securely internationally, our services include: Urgent and non-urgent payment mechanisms. Documentary credits or collections. Bonds and Guarantee services. Single European Payment Area (SEPA) Direct Debits. nour online solutions provide information and fingertip control: Lloyds Online Trade Services view, monitor and manage your trade activity. Arena our comprehensive e-solution combining foreign exchange and money markets trading with economic insight. TravelLink order currency online for secure delivery to any UK based office. 14
14 OUR INTERNATIONAL PRODUCT CAPABILITIES OVERVIEW Key capabilities to keep your international trade running smoothly. To support your trade needs RISK MANAGEMENT WORKING CAPITAL MANAGEMEN T Documentary Collections Bonds & Guarantees Foreign Exchange (FX) Services Letters of Credit Invoice Financing Trade Finance A simple and cost effective way to enable payments between key network banks. To support your ability to perform under a contract or meet payment obligations. They may also be used to underpin any bid to win new business. A good way to help manage exchange rate risks and can be tailored to your specific needs. To support you to deal confidently with your suppliers or your buyers, secure in the knowledge that payment will be made if the transaction is carried out according to the terms, and is crucially supported by a bank guarantee of payment. To help you to improve your credit management and free up cash flow to support business growth. A comprehensive range of finance solutions to help fund your working capital, whether buying or selling. 15
15 TAILORED TRADE SOLUTIONS EXAMPLE Putting your needs first, our specialist teams will work with partner networks and use expert trade knowledge to deliver the right banking solutions. Commercial events and timelines Tendering Contract Signed Supplier Paid Goods Shipped Goods Arrive Invoice Sent Invoice Paid Letters of Credit Stage 1 Client needs Improve Working Capital Trade Finance Documentary Collections Invoice Financing Stage 2 Tailored solutions Documentary Collections Mitigate Risk Stage 1. Initial assessment to understand your needs By conducting an initial timeline assessment, we get a full understanding of the critical commercial and geographic events in your trade cycle. Letters of Credit Bonds & Guarantees Foreign Exchange (FX) Services Illustrative purposes only Stage 2. Tailor financial solutions to meet your needs Through building the timeline, we can provide bespoke trade solutions for your needs in both risk management and working capital. 16
16 Any Questions? Happy to have further discussions regarding Growing your Exports Lloyds Bank is proud to have a startegic partnership with UKTI to help Britain Prosper, Globally We also work closely with UKEF using the Bond Support Scheme and Working Capital Scheme to enhance our ability to fund exporting activity. Please Visit our stand or phone me on
17 Disclaimer This presentation is for information purposes only. It is intended as a summary only and whilst it contains some information about the potential risks and benefits of various products and services it should not of itself form the basis for any investment decision. Whilst Lloyds Bank plc has exercised reasonable care in preparing this presentation and any views or information expressed or presented are based on sources it believes to be accurate and reliable, no representation or warranty, express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. If you receive information from us which is inconsistent with other information which you have received from us, you should refer this to your Lloyds Bank relationship team for clarification. Please contact us if you d like this information in an alternative format such as Braille, large print or audio. If you have a hearing or speech impairment you can use Text Relay (previously Typetalk) or if you would prefer to use a Textphone, please feel free to call us on (lines open 7am-8pm Monday to Friday and 9am-2pm Saturdays). Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service. Our service promise. If you experience a problem, we will always try to resolve it as quickly as possible. Please bring it to the attention of any member of staff. Our complaints procedures are published at lloydsbank.com/business/contactus 18
18 Disclaimer Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no Telephone: Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Licensed under the Consumer Credit Act 1974 under licence number We subscribe to the Lending Code; copies of the Code can be obtained from Lloyds Bank plc is covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. (Please note that due to the schemes eligibility criteria not all Lloyds Bank Commercial customers will be covered by these schemes). Factoring and Invoice Discounting, Asset Based Lending, Debtor Protection are provided by Lloyds Bank Commercial Finance. Lloyds Bank Commercial Finance Cash Friday is a trading name of Lloyds Bank Commercial Finance Ltd. Registered office: No.1, Brookhill Way, Banbury OX16 3EL. Registered in England and Wales no Not regulated or supervised by the FCA/PRA. Hire Purchase and Leasing and Asset Finance facilities are provided by Lloyds Bank Commercial Finance. When using these products and services your agreement will be with a Lloyds Banking Group company whose terms and conditions will apply. The Lloyds Banking Group includes a number of companies using brands including Lloyds, Halifax and Bank of Scotland, and their associated companies. 19
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