Euro Exim Bank is a reputed international bank that specializes in trade finance instruments with a focus on SMEs in emerging and frontier markets. We provide a comprehensive range of trade finance products that cater to any requirement. Using alternative trade finance solutions powered by digital technology, such as blockchain, we are able to provide competitive rates and unparalleled accessibility, no matter where your import or export business is located.
Letters of Credit
Widely acknowledged as the gold standard of trade finance instruments, a letter of credit provides peace of mind and risk mitigation to both importer and exporter. This is because an LC includes a guarantee of payment from a reputed and trusted bank, provided the exporter meets the agreed upon conditions. We are among the few trade finance providers that will readily issue electronic LCs upon request and provide LCs on both “at sight” and “usance” terms, as required.
An “at sight” LC makes payment due upon presentment of the shipping documents (and meeting any other requirement included in the LC), while a “usance” LC is one that allows for deferred payment at a specific future date.
Some parties will prefer a Standby LC instead, for cases in which the LC is only to be used as a back up and a sign of good faith, while actual settlement is intended to be made using some other mechanism.
Bank Guarantees
A bank guarantee is a bank’s promise to cover a loss to a 3rd party, in the event its customer is unable to meet their debt obligations. These are usually required when making large purchases or attempting to settle an international trade transaction on credit terms, where the exporter seeks some kind of formal assurance of payment from the importer.
At Euro Exim Bank, we provide both financial guarantees and performance guarantees, which are not exclusively cash-backed. We are also able to provide digital bank guarantees upon request. This allows for plenty of freedom and manoeuvrability for SME import and export businesses.
Proof of Funds
This is a formal acknowledgement, issued by a trusted bank, certifying that an entity possesses a certain amount of funds in cash or cash-equivalent assets, and that the said entity has legal access to those funds and is legally able to utilize those funds for a particular transaction. A proof of funds is often required in large international trade transactions, to establish trust and credibility between the transacting parties.International Trade Settlements
Through our partnership with Ripple Net and our state-of-the-art Exim Wave global trade settlement platform, we are able to provide our customers with instant 24/7 access to 150+ global currencies and the most competitive rates for international trade settlements. Our platform is backed by blockchain technology and uses Ripple to minimize liquidity costs and enable instant settlement of cross-border transactions with end-to-end tracking. This is particularly useful for clients operating within jurisdictions with challenging exchange control environments and limited financial freedom of movement.Categories.
