Facilitating Global Trade
International Trade is an ever-evolving business and we understand the complexities of the global market. Our products and services have been designed to ease your banking needs at any of our locations in 20 African countries, the UK, France, and the USA.
Trade with ease
Form M is an application to import goods. It is mandatory for all importers to complete the form on Federal Government Single Window for Trade – www.trade.gov.ng
The validity period of a Form M document is 360 days (for general merchandise) and 720 days (for plant and machinery); extensions of 180 days (for general merchandise) and 360 days (for plant and machinery) can be granted by the bank. Further extensions are approved by the Central Bank of Nigeria (CBN).
A Letter of credit (LC) is an agreement that is irrevocable and thereby constitutes a definite undertaking of the issuing bank to honour a complying presentation.
Bill for Collection is the handling of documents (financial and/or commercial) by banks in line with the instructions received from the exporter in order to:
- – Obtain payment and/or acceptance, or
- – Deliver documents against payment and/or acceptance
- – Deliver documents on other terms and conditions
- – Original Clean /Shipped on Board Bill of Lading /Airway Bill/Road Waybill
- – Certificate of Origin
- – Packing list
- – Commercial Invoice
- – Product Certificate
- – Single Goods Declaration (SGD) form
- – Accepted Bill of Exchange
- – Assessment Notice
- – Exit Note
- – PAAR (Pre – Arrival Assessment Report)
This form is to enable Small and Medium Enterprises (SMEs) access the sum of $20,000.00 quarterly to pay for imports
Payments for services which include the following: