Welcome to the Eximbank website. Please feel free to browse all the categories contained within it and see what services and facilities we can offer you.
PRODUCTS AND SERVICES
TRADE RECEIVEABLE FINANCING
What is Trade Receivable Financing?The Trade Receivable facility provides short-term financing to exporting manufacturers, distributors and service providers. Businesses receive financing in the form of a loan between 85% - 95% of the invoice value of export sales, which must be repaid from the assigned proceeds of payments from EXIMBANK approved buyers. The Trade Receivable facility aims to bridge the gap between the settlement of production costs and export sales receipts, allowing a business to accelerate cash flow and shorten operating cycles.
How does our Trade Receivable Financing Facility Work?An approved Eximbank exporter submits all the required documents on the Trade Receivable Financing facility checklist related to an approved EXIM buyer. 85% -95% of the invoice value is then forwarded to the exporter and after the agreed tenor is passed the buyer repays Eximbank 100% of the invoice value. All Exim fees and related interest are extracted and the difference is refunded to the exporter.
What are the terms related to Trade Receivable Financing?The tenor is designed to fit the relationship between the exporter and their buyers. The credit period usually ranges between 30 days and 120 days Bill of Lading (B/L) or Drawdown (DD).
What are the types of Trade Receivable Financing offered at EXIMBANK?Trade Receivable facilities can be discounted in Trinidad and Tobago Dollars (TTD) or United States Dollars (USD).
What are the advantages of Trade Receivable Financing?
RAW MATERIAL FINANCING
What is Raw Material Financing?This is a short-term loan/direct financing that Eximbank extends to an approved company to assist in the payment of inventory, may it be raw materials, semi-finished or finished products. Once goods are received, the exporter can now prepare products for local sale or export. The Raw Material facility is offered at competitive rates and is designed for trade transactions that are short-term and self-liquidated.
How does our Raw Material Financing facility Work?An approved EXIMBANK exporter submits a supplier’s invoice and wire transfer instructions along with a request of transfer of funds to the supplier. 100% of the invoice value is then forwarded to the supplier and after the agreed tenor is passed the exporter repays EXIMBANK 100% of the invoice inclusive of interest.
What are the terms related to Raw Material Financing?The tenor is customised to the exporter’s needs and usually ranges between 30 days and 270 days.
NOTE:Raw Material facilities can be discounted in Trinidad and Tobago Dollars (TTD) or United States Dollars (USD).
What are the Advantages of Raw Material Financing?
DEMAND LOAN FINANCING
What is Demand Loan Financing?A Demand Term Facility can assist manufacturers seeking to perform equipment upgrades to improve the quality of their export products or for renovation of their premises.
What are the terms related to Demand Loan Financing?The tenor is designed to the exporter’s needs and usually ranges between one to five years
What are the payment terms related to Demand Loan Financing?The following are the usual payment terms offered to clients:
EXPORT CREDIT INSURANCE
What is Export Credit Insurance?Export Credit Insurance provides risk protection to exporters against payment default by foreign buyers on goods and services exported on credit terms. With this protection, exporters are given the confidence to venture into emerging markets thereby expanding the export thrust. With the EXIMBANK credit insurance policy, exporters can obtain protection against political and commercial risks.
How does Export Credit Insurance Work?An approved Eximbank exporter submits Declaration of Shipments and Declarations of Overdue shipments along with a fee that is calculated per invoice value on or before the 5th of the following month, declaring all the shipments sent in the previous month.
What are the rates offered by EXIMBANK?Premiums vary depending on the buyer’s credit worthiness, payment terms and the economic and political environment. Currently the premium rate ranges between 1.8% and 3.5%.