Export Finance from Synergy in Trade
Exporters looking for funding come to us for several reasons:
- They have an opportunity to fulfil an order which is of a larger value than normal
- The overseas buyer will not pay sufficient deposits, or indeed any funds in advance yet are willing to pay on shipment against a letter of credit
- There may be a need to pay suppliers for components in advance or before goods can be shipped or they may be having the entire product manufactured elsewhere and need funds to get the project mobilised.
- Unlike a bank we can respond quickly to your request for finance.
Because Synergy are experts at turning Letters of Credit into cash, the Letter of Credit becomes a form of security to lend against. Banks will not do this. Of course, we are interested in our client's balance sheet for profitability, and we take a view on the risk of non-performance by our client. However, we derive a much greater amount of comfort from the Letter of Credit than a bank would.
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The sooner we become involved in export contracts the better. We can spot potential pitfalls and suggest corrections to the terms of trade if we are in time. After that we can provide an outline of the letter of credit that you should ask for.
Trading on letter of credit terms gives you security of payment. Synergy will provide the finance required to pay your suppliers against the comfort of the letter of credit.
Trading on letter of credit terms gives you security of payment. Synergy will provide the finance required to pay your suppliers against the comfort of the letter of credit.