Union Bank has invested in Transaction Banking solutions that are built on streamlining business processes, improving operational efficiency and enhancing working capital management for our clients.
TRADE FINANCE SOLUTIONS
Import Letters of Credit
With our vast array of international correspondent banking relationships, our highly skilled personnel and a robust Online Trade Finance Application portal, we offer first class solutions to clients importing goods through the Import Letters of Credit payment mode.
Export Letters of Credit
We provide a holistic range of services to support exporters under the Letter of Credit payment mode. Our services include receiving, reviewing and advising on authenticated instruments, documents negotiation, export financing- (including LC discounting) and receiving & certification of exports proceeds.
Import (Inward) Bills for Collection
Our clients who enjoy suppliers’ credit under the Import Bills for Collection payment mode have a great partner Bank in us, as their transactions are treated with utmost care and speed. We add our aval to accepted Bills of Exchange when required by our clients.
Export (Outward) Bills for Collection
We support our clients’ exports through the Bills for Collection payment mode from production/sourcing of exported goods to documents checking, dispatch, receipt and certification of export proceeds.
We provide a range of bonds and guarantees including Bid/Tender Bonds, Performance Bonds, Advance Payment Guarantees, Customs Bonds, Shipping Guarantees and Retention Bonds. We provide that degree of assurance and security which counter parties need to build trust and grow their relationship with us