For Business

LC Confirmation

What is LC Confirmation

Confirmation of Letter of Credit is a security tool for the exporters. Confirmation eliminates country risk and insolvency risk of the issuing bank. Confirmation means a definite undertaking of the confirming bank , in addition to that of the issuing bank, to honor or negotiate a complying presentation. Confirming bank means the bank that adds its confirmation to a credit upon the issuing bank’s authorization or request.

Why Confirmation of LC is Required

Supplier / Exporters from developed countries normally ask for a confirmed letter of credit, when buyer / Importer is from a under developed/ developing countries.

How Can We Assist Your Business

ITTS maintain working relationship with more than 50 global banks across different time zone. ITTS can offer you best solution for confirmation of your LC as per your exporter’s requirements at a competitive pricing.

UPAS LC Financing

What is UPAS LC

UPAS LC (Usance Letter of credit payable at sight) refers to a letter of credit is similar to a traditional usance letter of credit, the seller is paid on a sight basis upon presenting compliant documentation to the buyer’s bank. Charges and interest of financing bank are paid by the buyer

Why UPAS LC financing is Required

Buyer always wants to buy in credit on the other hand sellers always prefer to sale in cash. UPAS LC is the perfect solution that could accommodate interest of buyer and seller. As seller to be paid at sight but buyer will pay at a future time, so a financing source should be there to finance the transaction for the period starting from when seller receive his payment to when buyer will pay for this purchase.

How Can We Assist Your Business

ITTS maintain working relationship with more than 50 global banks who are interested to finance UPAS LC transactions depending on LC issuing bank, commodity and suppliers domiciled country.

ITTS can offer you a best solution for financing of your UPAS LC at a competitive pricing with simplified execution process.

Structured Import Financing (SIF)

What is SIF

Structured Import Finance is a specialized service to derive tailor made solution for mitigating risk and securing finance considering the particular needs of the commercial transaction and specific need of the client.

Why SIF is Required

To ensure buyers interest as well as sellers requirements, special structuring became unavoidable for import transactions having following features:
1. Large ticket size
2. Multiple supplier with diversified geographic location
3. Longer financing tenor

How Can We Assist Your Business

In depth market knowledge and superior expertise to structure the deal is our competitive edge over our competitors. We maintain our presence in important global market like Hong Kong, Germany, United Kingdom & United States through our allied and alliance concerns.

By exploiting our knowledge , experience and using our allied and alliance concerns as execution vehicle we can derive most competitive solutions to meet your special requirements for your complex import transaction

Export Financing

What is Export Financing

Financing the Export transaction for the credit period (that Exporter allowed to Importer/ Buyer) after executing the shipment through discounting of corporate acceptance (in case of export under sales contract) or discounting of Bankers acceptance (incase of export under Usance LC)

Why Export Financing is Required

When companies export products or services where payment terms is credit, can often create working capital challenges. Export finance helps businesses to convert receivables into cash, that would otherwise be tied-up in receivables for whole agreed credit period between buyer and seller.

How Can We Assist Your Business

RMG is the main export items of Bangladesh. Export transactions of RMG has some unique features like small ticket size of transactions, Multiple shipment to single buyers, Buyers are interested to buy through sales contract (Instead of Through LC). ITTS already established strategic relationship with global banks and FIs who have interest and capable to finance export transactions of RMG.

ITTS can arrange export financing at a competitive pricing for your RMG export to your buyers (for most of buyers who signed either ACCORD or ALLIANCE) under sales contract .

Synergy For Business

What is

Synergy a swift certified Trade Service application developed by Pinnacle Solutions Incorporated, USA (PSI)

Synergy Trade Services (TS) is a hosted, web-based solution used by corporates for the processing, reporting and tracking of import, export and guarantee Transactions.

Synergy provides the corporates with the ability to transact with any bank from a single internet platform

Why

 Access to secured Swift Communication channel without having a Swift Number.
 Secured Digital connectivity to communicate and send/ receive documents to multiple banks.
 Multi Bank Limit Monitoring Facilityless trade operations.
 Automated export documents generation in customized format
 Automated Activity Tracking, customized reporting, integration with internal ERP