We understand that opportunities can arise anywhere around the world, and it is important for you to make the most of them. Citi's local and global trade experts, across more than 100 countries, work together to deliver trade solutions tailored to meet your particular needs.
Our Trade Services Advantages
- Wide range of domestic, export & import services and trade financing solutions
- Issuance of Letters of Credit and Bank Guarantees
- State-of-the-art image-based processing system for a shorter turnaround time
- Regular E-mail alerts on your trade transactions status
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Selling your products and services in the global market need not be a painstaking process for you anymore. With Commercial Bank handling all of your export-related transactions - it is no more a hassle! With faster credits through our global network of branches and access to collection information through E-mail alerts and a dedicated Trade Toll Free Number - you have greater control over your foreign receivables. Through a dedicated and expert Trade and Forex Advisory desk - we can structure and customise solutions for your specific requirement.
a. Export Digitization
EDPMS Export Solution on CitiDirect BE ® offers market-first end-to-end digital paperless export collections processing by leveraging on data available on regulatory platform (Export Data Processing and Monitoring System)
- End-to-end Lifecycle Management
- Automated Intelligence Match-off
- Online Discrepancy Management
- EDPMS/Transaction Execution Dashboard
- Online NOSTRO Disposal
b. Export Bill Collection Services
By routing your Documentary Collections through Citibank, you can now enjoy faster credit of your export credits through our global network of branches in more than 100 countries. With easy access to collection information details - you can now be in complete control of your foreign receivables!
c. Export Packing Credit (Pre-Shipment Finance)
We provide pre-shipment finance in the form of Export Packing Credit to manage your cash flows for the purpose of procuring raw materials, manufacturing, processing, transporting, warehousing, packing, shipping of goods, etc. You can avail this facility in Indian Rupees (Packing Credit) or in a foreign currency (PCFC - Packing Credit in Foreign Currency). Please walk into the nearest branch or call your Relationship Manager to know more!
d. Export Bills Negotiation (Post-Shipment Finance)
We also negotiate your Export Bills Drawn under a Letter of Credit (LC), if the documents submitted comply with the Terms of the LC. This offering is in the form of a loan advanced to you to bridge the working capital need that may arise after shipping of goods to the date of realisation of your export proceeds. And this comes to you at a very competitive rate of finance!
e. Export Bill Purchasing and Discounting (Post-Shipment Finance)
If your Export Bills are not drawn under a Letter of Credit (LC) - we can advance an amount against sanctioned credit limits immediately after shipment of goods.
f. Export LC Advising
With an international presence in more than 100 countries and a strong correspondent bank network (more than 6,500 banks globally) we advise LCs for customers and non-customers across the country. Once received, these LCs are advised to you without any delay and under committed time frames. Through our expertise we can explain complex LC terms to help you assist in error - free document preparation.
g. Export LC Confirmation Services
To protect your export receivables against the political climate or credit risk of the buyer's country, we offer LC Confirmation Services. Once confirmed you are assured of payment subject to your submission of non-discrepant documents irrespective of non-payment by LC opening bank.
h. Export Document Scrutiny Services
A small discrepancy in your export document can lead to refusal of document acceptance or delayed payments resulting in financial losses for you. This can adversely affect your cash flows and profits. With a specialist team of trade exports scrutinising your export documents and a rigorous process of checking you can be assured of not only saving substantially on the discrepancy fee of foreign banks but of any risks that may arise in case the documents get rejected.
Being a privileged customer of Commercial Bank, you now have access to the complete suite of import services. By being a leading bank of international repute, we can offer you customised solutions to suit your business requirements. Our wide presence helps us deliver products in a speedy and efficient manner and also helps in simplifying and faster query resolution, responses to follow-ups and reimbursements.
a. Import Digitization:
IDPMS Import Solution on CitiDirect BE ® is a best-in-class end-to-end digital paperless import payment solution where Citi leverages upon the data available on IDPMS (Import Data Processing and Monitoring System) to eliminate all physical documents, and provides clients with a seamless and digitized experience
- Enhanced Visibility of imports to facilitate regulatory compliance
- Real-time tracking of import transactions status with online exception resolution
- Seamless digital workflow accessible via CitiDirect BE
b. Import Letter of Credit
A letter of credit represents an unconditional undertaking by the Issuing Bank to pay/accept to pay to the beneficiary on fulfillment of stipulated documentary conditions. Hence, the creditworthiness of the bank replaces that of the buyer.
Citibank issues, advises, amends, confirms and pays sight and time letters of credit through its extensive network of branches and correspondent bank relationships.
We boast of a high level of expertise in providing advisory services in the structuring of Letter of Credits to suit the specific requirements of your transactions. Our trade team is well equipped to structure solutions for a variety of purchase requirements, ranging from simple LCs to revolving LCs, to Standby Letters of Credit.
c. Import Payments Services
With us, you can be assured of a prompt and efficient handling of your Import Collection Documents, direct import documents or advance payments. Our team of experts will carefully scrutinise the documents and assist you in effecting payments for the goods purchased from abroad.
With our trade advisory services, you can now be advised on various provisions that exist in FEMA relating to such payments and effecting faster and efficient remittances to your supplier.
d. Supplier and Buyer's Credit
We can arrange for financing your imports through a buyer's/supplier's credit at very competitive rates of interest. This is a foreign currency loan and interest rates are typically linked to the LIBOR rate of the currency of finance.
A bank guarantee is an undertaking by the Bank on behalf of its client to pay a certain sum of money to a beneficiary in case of default by the applicant in meeting certain Terms and conditions of an agreement and contract.
Types of Guarantee that are available are:
- Financial Guarantee: Such guarantees are an irrevocable undertaking by the banks to guarantee repayment of financial obligation
- Performance Guarantee: Such guarantees are an irrevocable undertaking to make payment in the event the customer fails to perform a non-financial contractual obligation
- Shipping Guarantee: Such guarantees are issued in favor of the shipping company to enable the importer to take delivery of goods without shipping documents
You can now have BGs issued through us with 100% cash collateral or against an existing line with us.
- Collection of domestic purchase or sale documents.
- Extensive tie-up with local banks.
- Faster realisation of payments.
- If Your Domestic Bills are drawn under Letter of Credit (LC) - we can negotiate the under LC document on Issuing Bank lines after shipment of goods.
- Repayment tenor up to 5 years
- Option to avail loan with fixed rate of interest or floating rate with interest rate linked to T Bill
- Local / Foreign currency long term Loans
- Cash credit.
- Working Capital Demand Loans with tenor up to 12 months
- Option to avail loan with fixed rate of interest or floating rate with interest rate linked to T Bill
- Local / Foreign currency short term Loans
- Export & import Letters of Credit.
- Documentary collections.
- Pre & post export financing and import financing.
- Structured Trade Finance solutions.
In line with RBI policies, interest rate on INR floating rate loans / trade facilities for MSMEs are linked to Treasury Bill benchmark rate published by Financial Benchmarks India Private Limited (FBIL). Similarly, we also extend the floating rate loans/ trade facilities linked to Treasury Bill benchmark to our corporate clients. Interest rate on foreign currency floating rate loans are linked to LIBOR (London Inter-bank Offered Rate). For details on interest rate and linkage options, please contact your relationship manager.
Citi Commercial Bank is a Division of Citibank, N.A., India ("Citibank"). Nothing in this web-site is an offer, invitation to offer, commitment or agreement on the part of Citibank or on the part of any Citibank entity, including to prepare, negotiate, execute or deliver any product/s, service/s, arrangement/s, lending or subscription and does not give rise to any liability or obligation on the part of any Citigroup entity. Not all products and services are necessarily applicable to all prospects / customers or available at all locations or at all times. All products and services are subject to the provisions of the applicable laws and regulations and Terms and conditions applicable from time to time. Availability and issuance of products and/or services is also subject to, among other factors, where relevant, such due diligence as may be required by Citibank, an offer being made by Citibank and an acceptance of that offer, internal approvals and external approvals (if any) and the customer meeting regulatory as well as Citibank's internal policy requirements. This website is merely descriptive of various products that are currently available.
Terms and conditions, without limitation, the nature of products and services, rates operational particulars etc., may be modified or supplemented by Citibank for its products / services in its sole discretion at any time and from time to time including during the course of a due diligence and/or credit approval process or as a result of changes in market or economic or other relevant conditions or criteria otherwise (including the absence of any material adverse change in the financial markets or in the financial condition, operations or prospects of relevant persons).
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