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Citi | ||
Australia and New Zealand
Global Transaction Services
Services for Exporters
With Citi you have the ideal choice of a trade services partner – for all your trade needs, from letters of credit to documentary collections.
With Citi, you can:
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• | Ensure timely payments from importers |
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• | Reduce cross-border risks |
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• | Minimise trade documentation |
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• | Generate direct export collections electronically |
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• | Send transaction details directly from your office |
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• | Denominate transactions in any currency |
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• | Streamline documentary transactions |
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• | Simplify reconcilement |
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• | Receive enhanced information reporting |
Export Letters of Credit
Each year we issue, advise and confirm letters of credit in favour of thousands of exporting companies around the world. Our network ensures that you benefit from efficient communications and prompt payments.
By centralising the advising and negotiation of your export letters of credit through Citi, you can:
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• | Enhance your administrative efficiency electronically | ||||
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• | Receive reports on outstanding transactions | ||||
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• | Improve payment cycles | ||||
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• | Benefit from Citi’s global banking network, expertise and established relationships in local markets across the globe assisting with:
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Citi Letter of Credit Confirmation
A Citi Letter of Credit Confirmation helps minimise both the importer’s country risk and the issuing bank’s commercial credit risk, while assures you of payment by the confirming Citi branch. This is a feature that you will find valuable, especially when your client is located in a potentially unstable environment.
Our global presence and extensive correspondent Banking relationships with other Financial Institutions assists Citi in providing a broader coverage of risk mitigation through confirmation of your letters of credit.
Export Documentary Collections
Export Documentary Collection is a method of payment by which exporters can collect payment from an importer through an intermediary bank. For commercial trade transactions, our Export Documentary Collections offer you an alternative payment method to letters of credit.
Unlike with letters of credit, the bank does not cover credit and country risk. If you are comfortable assuming those risks then, Export Documentary Collection makes for a cost-effective option.
Here is how it works:
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• | We retain custody of the title documents, when you ship goods to an importer, until payment is received or expectance is obtained from the importer. |
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• | Transaction proceeds are remitted to your account within 24 hours of receipt, from wherever they originate, giving you access to your funds at the earliest possible moment. |
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• | Export Documentary Collections can be generated electronically, using Citi to transmit transaction details directly to us from your office. |
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• | These transactions can also be denominated in a variety of currencies. |
With Citi Export Documentary Collections, you can:
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• | Centralise the management of export receivables. |
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• | Electronically track outstanding collections. |
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• | Know when payments are made. |
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• | Receive enhanced information reporting. |
Help Desk
Australia
1300 362 100New Zealand
0800 248 444Useful Links
http://www.citi.com.au/
Terms and conditions