Trade Finance Solutions

tmo

You can access Trade Management Online (TMO) is through our digital banking platform, Absa Access. This is a secure online electronic banking platform for small, medium, large and corporate customers. It gives you a single access point for all your Corporate and Investment Banking products and services across Africa. Trade Finance clients are able to initiate, receive and manage the full lifecycle of the current Trade Finance product offering through the channel. It further allows users to add and approve beneficiaries before capturing applications. TMO also offers letters of credit, bank guarantees, trade loans and documentary collections.

Logon to Absa Access

What are the Absa Access features?

Provides a user-friendly web-based system
Provides a single sign-on via Absa Access
Available 24/7, although transactions will be processed according to your countries business day processing times
Facilitates:
-Import & export letters of credit which also includes refinancing and discounting
-Outward & inward guarantees which includes both foreign and domestic
-Domestic and cross-border trade loans
-Import and export documentary collections
Upload multiple supporting documents in various formats, such as: PDF, MS Word, MS Excel, JPEG (to a maximum of 20Mb per document)
Track and manage transactions through the various queues
Provides descriptive error messages
Audit trails are available online from the very first time you login
Provides online capturing and authorisation
Re-use applications that have already been captured for any of the trade products for ease of processing
Secure two-way communication between bank and client via the correspondence capability on the channel
Indicative rates are available on the channel, which gives the users the ability to view a foreign currency amount in the equivalent local currency
Allows you to manage your authorisation levels and user mandates

importers

We assist you with various letters of credit to secure your order transactions and ensure that your suppliers present import documentary collections. Our avalisation of bills of exchange assists you when your exporters require payment guarantees.

Import letters of credit

Your overseas supplier may require you to provide an irrevocable letter of credit in their favour to secure a trade transaction
We can issue letters of credit to beneficiaries in virtually all countries worldwide and in all freely convertible currencies
Subject to fulfilment of all our requirements, our policy is to ensure the beneficiary's bankers receive our letters of credit within 24 hours of our receipt of your application

Revolving letters of credit

These are useful for buyers and sellers who have a long-standing trade relationship.
They involve our conditional undertaking to reinstate a letter of credit either after the occurrence of a specific event or after a specific time period has lapsed.
Depending on your needs, we will reinstate these instruments automatically and without any further amendment from you.
The number of times this can take place will be agreed upon and specified in the credit documents.

Standby letters of credit

Payments under standby letters of credit are generated by the default of the importer under a specific trade contract
Standby letters of credit are irrevocable and payable on demand
Upon your request as an importer, we can provide this form of conditional undertaking to the beneficiary on your behalf
Should you fail to make settlement, we can settle on your behalf. This happens upon presentation of specific documents by the beneficiary, as required under the credit agreement

Import letter of credit for refinancing

We can arrange to settle import letters of credit on your behalf and refinance you locally up to 180 days after the payment date, depending on your requirements
This arrangement can be applied in various instances and ultimately gives you the flexibility you need to manage your cash flow

exporters

We offer tailor-made export finance solutions to fulfil your trading obligations. Export letters of credit eliminate the risk of default by the beneficiary and give you quicker access to finance, while pre and post-shipment financing gives you access to finance before the shipment takes place and enhances your cash flow position.

Export letters of credit

We can issue letters of credit to beneficiaries in virtually all countries worldwide and in all freely convertible currencies
Subject to fulfilment of all our requirements, our policy is to ensure the beneficiary's bankers receive our letters of credit within 24 hours of receiving an application

Transferrable letters of credit

These are letters of credit that can be transferred from the first beneficiary to one or more additional beneficiaries
We can issue and advise on transferable letters of credit on your behalf
Given the risks inherent in these instruments, our trade specialists are available to assist you all the way

invoicefinancing

Factoring is a specialised facility that expedites payment and cash flow for you as an exporter and can eliminate credit risk. Factoring enables exporters to receive cash immediately by selling their medium-term receivables at a discount. Under this facility, we purchase obligations falling due at some future date arising from the sale of goods or services without recourse to the seller.

How it works

This is a transaction-based facility and is generally evidenced by the use of negotiable instruments such as bills of exchange and promissory notes guaranteed by a third party - usually a bank
Traditionally used in financing of exporters, factoring has evolved to also suit local traders/sellers and we have been at the forefront of this
Different types of either financial or commercial documents are exchanged during trade transactions. These provide evidence of a transaction as well as acknowledgement of debt
This specialised form of trade financing is available with or without recourse to your business, depending on the credit assessment of both parties involved in the transaction

bonds

We offer various types of bonds and guarantees as required across your transaction lifecycle and navigate your export needs. We also guarantee payment in case of default or non-performance to contractual obligations. Talk to us about invoicing and bill discounting today and see what we can do for you.