Import Financing

Import financing is a straightforward credit facility with a single maturity date, offered by TradeBank to its clients. This credit is designed to cover payments for your international trade operations, whether related to the purchase of goods or the receipt of services from a foreign supplier.

Financing is available in both euros and foreign currencies, starting from the effective date when TradeBank makes the import payment, extending to a future date agreed upon by both parties, typically within a period of less than one year.

To best meet your company’s financial needs, you can defer the payments of your imports through TradeBank, whether these are made via documentary credits, collections, or transfers.

It’s important to consider the exchange rate risk when applying for import financing in currencies other than the euro.

Documentation

1. Proforma Invoice: A detailed invoice from the supplier indicating the goods, their value, and terms of sale.

2. Purchase Order: A copy of the purchase order or contract signed between the importer and supplier.

3. Import License: If applicable, a valid import license or permit required for the goods being imported.

4. Bill of Lading or Shipping Documents: Proof of shipment, such as a bill of lading, airway bill, or other transport documents.

5. Customs Declaration: Documentation confirming that the goods have been declared to customs and are eligible for import.

6. Insurance Policy: Insurance coverage for the goods during transit, if required.

7. Financial Statements: The latest financial statements, including balance sheets and income statements, to assess the importer's financial health.

8. Tax Compliance: Proof of tax registration and compliance (e.g., VAT number, tax clearance certificate).

9. Bank References: Letters from banks confirming the importer's creditworthiness and financial stability.

10. Payment Terms Agreement: Documentation outlining the agreed payment terms with the supplier (e.g., letters of credit, bank drafts).

11. Collateral Documentation: Details and documentation of any collateral offered for the financing, such as property or guarantees.

12. Company Registration Documents: Copies of the company's articles of incorporation and registration with relevant authorities.

13. Personal Identification: Copies of ID documents for company directors and shareholders.

14. Cash Flow Projections: Projections showing how the import financing will affect the company’s cash flow.

This documentation is essential to evaluate the risk, verify compliance with regulations, and ensure the successful completion of the import transaction with adequate financial support.