Trade Finance Products

This is a method of payment used whereby an exporter entrusts the handling of commercial and often financial documents to a Bank and gives the bank instructions concerning the release of these documents to the importer.

Requirements for payment

• Declaration for imports or Custom’s entry form.
• Import Declaration Form (IDF).
• Copy of the Clean Report of Findings (if called for).
Requirements for Processing
• Customers letter of instructions.
• The collection documents.

This is a written irrevocable undertaking issued by the bank to pay the beneficiary on demand in the event that the customer has not fulfilled his/her contract obligations and a specific sum of money with in the validity of the guarantee. KCB guarantees are acceptable locally and internationally. These include: Bid Bonds (secured & Secured up to UGX 500M), Performance Guarantees, Advance Payment Guarantees, Retention Bonds, Supplier and payment.

This is a short term financing offered strictly to importers. These include traders that import raw materials for their own use or resale. The loan and interest is paid from the sale of import loans. Loan proceeds are transferred directly to supplier.

This is a facility given to a client against the outstanding invoices/certificates that are awaiting payments. The bank discounts up to 70% of the invoice or certificate amount by availing the amount immediately on confirmation and this is then cleared on receipt of the payments from the invoiced party who undertakes to remit the invoice amount directly to the bank.

This is a facility granted to a borrower based on contracts that the client has been awarded and payment is expected upon completion or part completion of the project to the buyer.

A Letter of Credit is issued by the Bank at the request of the customer (applicant/importer) where the Bank undertakes to pay the beneficiary/exporter for goods and services, provided the beneficiary presents all documents called for and meets all other terms and conditions set out in the LCs.
Requirements

• A pro-forma invoice.
• Import Declaration Form (IDF).
• Insurance (if cover is local).

This is a facility granted to a borrower based on contracts / Purchase that the client has been awarded and payment is expected upon completion or part completion of the project to the buyer.

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