When your company is involved in the import or export trade, having a bank that facilitates your global business activities is of vital importance. By minimising the risk on transactions, ING’s custom-built professional trade finance products keep your company at the top of its game.
Our trade finance products include letters of credit, documentary collections and bank guarantees. With a letter of credit (also known as a documentary credit), the buyer’s bank guarantees payment to the seller if certain criteria are met. Documentary collections, just as letters of credit, reduce the payment risks on international trade transactions, and with a bank guarantee your obligations to third parties are ensured. All these products offer security and protection against risks if an international trade transaction does not go as planned.
Importers and exporters can also use a letter of credit to obtain financing. An exporter, for instance, can obtain funding from his local bank to manufacture the goods as this bank is assured that payment will follow when the documents are presented under the credit.
Our trade finance experts acquire a fundamental understanding of the way you do business so we can offer advice tailored to your specific situation. Our products can be combined and shaped into a custom-built product that helps reduce your risks and will enable your business to flourish.
- facilitating global business activities
- minimising risk on transactions
- product offer suited to your requirements