SNB Import Services offers a wide range of products to facilitate and finance your import requirements. Our qualified staff will ensure that you get the best and prompt service.
SNB UAE
Corporate Banking: Trade Services
Import Services
Letters of Credit
Letters of Credit
One of the most common methods of financing the exchange of goods and services is through Letters of Credit. As an instrument, it is a written undertaking by SNB (the issuing bank) given to the seller (beneficiary) at the request and on the instructions of the buyer (applicant) to pay at sight or on a determinable future date a stated sum of money within a prescribed time limit and against stipulated documents, provided that the terms and conditions of the letter of credit are complied with.
Import Documentary Collections
Import Documentary Collections
SNB handles financial and/or commercial documents according to the instructions received in order to obtain payment and/or acceptance or to deliver documents against payment and/or against acceptance or to deliver documents on other terms and conditions. Banker’s Acceptance bankers' acceptance is a short-term credit instrument, most commonly used in international trade. It can be created under letters of credit.
Bills Discounted
Bills Discounted
The discounting of usance drafts and bankers' acceptances (the bank's own acceptances or acceptances of other banks) covering the shipment and sale of merchandise is offered. This product allows the seller or exporter of goods to receive immediate payment for a shipment while the buyer or importer need not make the payment until maturity of the draft.
Export Services
SNB has a range of products that an exporter can use to facilitate export. SNB Trade Specialists are committed to deliver great value to our customers.
SNB offers a wide range of products and services to facilitate every exporter's needs. SNB Trade Specialists are committed to deliver great value to our customers with the following services:
Export Letter of Credit Confirmation
Export Letter of Credit Confirmation
A confirmation of an irrevocable letter of credit upon the authorization or request of the issuing bank constitutes an undertaking by SNB (the Confirming Bank). This authorization is issued provided that stipulated documents are presented and terms and conditions are complied. Such confirmation services is required in order to manage commercial and transfer risks between a wide range of countries and credit worthy banks.
Export Documentary Collections
Export Documentary Collections
This service is the management of financial and/or commercial documents in accordance with the instructions received in order to obtain payment and/or acceptance or deliver documents against payment and/or against acceptance or deliver documents on other terms and conditions.
Export Letters of Credit (Advising / Negotiating)
Export Letters of Credit (Advising / Negotiating)
SNB's role as an advising bank is to check the authenticity of the letter of credit and recommend it to the beneficiary. It also scrutinizes and negotiates export documents ensuring that amendments and relevant correspondences are promptly advised to the beneficiary.