The following questions may help you find the solutions that best meet your needs. We recommend meeting with one of our U.S. Bank Global Trade and Payments Consultants to further assess your unique situation and determine the best course for your company.
Letters of Credit
Are your imported goods unavailable because you haven't requested appropriate documents to clear or take title to merchandise? Do you wonder what angles or hidden risks you might have overlooked in accepting an export letter of credit? Our specialists help you structure transactions that fit your import, export or standby letter of credit needs.
Looking for a financing option that could save you money? If you have a borrowing relationship with U.S. Bank, you might qualify for banker's acceptances. Banker's acceptances offer fixed-rate, fixed-term financing on a discounted basis for import, export and domestic shipment of goods. This method of financing allows you to match the maturity date of the banker's acceptance with the anticipated payment of the underlying receivable. In most cases, this results in expense savings through lower-rate financing. Use banker's acceptances in rising interest rate environments to lock in lower fixed rates.
Is your buyer unable or unwilling to work with open account, letter of credit or cash-in-advance terms? Do you prefer to use documentary collections to pay for imported merchandise? Documentary collections provide security through bank-to-bank control and allow you to amend collection terms easily through banking channels. U.S. Bank documentary collections specialists can help facilitate your trade collection needs.
Bank-Assisted Open Account
Much of international trade today is conducted on open account. U.S. Bank-assisted open account solution enables importers to process open account transactions online – from purchase order-to-payment approval – while reducing paperwork, manual processing and costs. You can increase control of your open account portfolio through customizable approval processes and payment decision tools; and use information to your advantage through payables reporting, alerts and secure communication.
Export Finance Programs
Do you want to minimize risk in an unfamiliar country? Are you looking for new pre-export financing opportunities? U.S. Bank offers an array of pre-export finance solutions including U.S. Government-backed programs. Our specialists can help you understand the options and create a customized solution to meet your needs.
For more information on International Banking services, please contact us.