Documentary Trade

For clients who require documentary trade services, we offer functionality for conducting trade operations to businesses trading with partners in international markets. We provide you with the capability to originate, give instructions to the bank, and receive advices and secure messages regarding trade transactions throughout the transaction life cycle.

Documentary trade products include:

• Import letters of credit
• Import collections
• Export letters of credit
• Settlement of trade transactions

Open Account Trade Finance (OATF)

In today’s business environment, buyers and sellers often trade on open account terms, meaning goods and services are delivered / provided with payment being made or received at a later stage. Buyers typically require extended terms from sellers, which are aligned to the receipt of their sales proceeds, whereas sellers usually prefer to receive their sales proceeds as early as possible. This means that effective working capital solutions are needed to balance the needs of buyers and sellers.

Open account trade finance (OATF) through Business Online helps buyers and suppliers to load, authorise and ultimately finance (or discount) invoices.

Open account trade finance includes:

• Supplier finance (alternatively known as Payables finance)
• Receivables discounting
• Invoice finance

International Trade Security and Control

• The segregation of duties, as specified by you, the client, is a key component to managing risk.
• If needed you can specify a group of companies, and the hierarchical structure of those companies, when setting up a profile.
• Access is controlled with an advanced security feature known as two-factor authentication. This requires users to provide a username and two passwords – their own and a one-time password (OTP) generated by a device called a token.
• To streamline processing when the instruction reaches the bank, the system helps users to capture data accurately and ensures that all mandatory fields are completed.

Support we provide

• A Standard Bank representative will assist you to determine the requirements of your business and will guide you in the creation of the profiles.
• Once the profile is created, a bank representative will provide training on the product at your business premises.
• Users can contact the specialised client contact centre where our highly trained operators can assist with product related queries as well as navigation.