This is a facility designed to offer financing of short term loans or advances against the import shipping documents for customers who engage in frequent importation of either raw materials or finished goods.

• Tenor must not exceed 120 days
• Facility amount per transaction must not exceed $160,000
• Import order must not be less than $50 000
• Minimum customer contribution is 50% of landing cost (CIF + Customs Duty + Clearing Cost)
• Goods must have minimum shelf life of 12 months and must not be seasonal or perishable
• Goods being imported must have a high secondary value
• Importation must be by way of confirmed and irrevocable letter of credit
• Repayment shall be in full after 120 days or against shipping documents whichever is earlier
• Goods must be insured by a UBA approved Insurance Company while in transit and up to the point of release to the applicant by the Bank

•  Applicant must have been in account relationship with UBA for at least 3 months during which it has been operated satisfactorily. 
• The account must not have a history of returned cheques in the last 3 months
• Applicant must have been in the line of business for at least 2 years
• Applicant must have done some importation in the last 6 months
• Applicant’s trading assets must have a minimum value of 150% of the facility amount
• Applicant’s average quarterly turnover over the immediately preceding 12 months must be a minimum of 1.5 times the facility
• Applicant should have a clean credit reference report

•  Applicant presents formal letter of request for financing
• Provides a proforma invoice
• Completes Basic Information Report together with the Account Officer
• Provides evidence of his minimum contribution