Corporate Banking Services

Bonds and Guarantees

Bonds

A form of guarantee given by the bank to facilitate clients carrying out business transactions without delay

Performance / Bid Bonds

A buyer may seek an assurance that a supplier can perform a specific supply contract and may seek a Bond confirmation from the Bank. These endorsements on the part of the Bank serve as a method of confirming the sound financial standing of a company, as well as its ability to honour its obligations.

The Performance Bond is issued for a percentage of the contract (usually 10%) With the Bid Bond the Bank endorses a company bidding for a specific project.

A Bid Bond is also issued for a percentage of the project (usually 5%)

Guarantees

This instrument is less rigorous than a Letter of Credit; this instrument is negotiated between an importer and a Bank. The Letter of Guarantee confirms to the supplier that payment will be made once the pre - agreed supply terms have been satisfied. This eliminates credit and payment risks for the supplier.

International Financing

Letters of Credit

A letter of instructions issued to an exporter by a Bank, at the request of its customer agreeing to put a specific sum at the seller’s disposal, on the buyer’s behalf under precisely defined conditions.

Standby Letter of Credit

An instrument issued by a Bank at the request of its customer to a named beneficiary. It is issued in the form of a financial guarantee or a performance guarantee. Issued in any major currency

Foreign Currency Loans

Denominated in foreign currency, this type of facility is available to earners of foreign exchange.

Documentary Bills For Collection

A product for financing the sales of goods and services where a Bill of Exchange , and documents are forwarded to the buyers bankers to be held in trust with the release of title documents only when the buyer has paid or has accepted the Bill of Exchange promising to effect payment at specified date.

Export Development Financing

Provides up to 100% of the working capital requirements for inputs and or discounting of export receivables

Foreign Funds Transfer

A quick and efficient method of payment which enables foreign currency transfers to any part of the world.

Investment Products

Banker's Acceptance

Designed to assist borrowers in accessing funds at preferred rates of interest, the product matches an investor with a borrower. The term of the arrangements is usually between 30 - 180 days. It is an unconditional non-interest bearing note that is issued by a borrowing company. That order is evidenced by completing a special draft called a BA. On acceptance of the BA, the bank assumes an irrevocable liability for the borrower’s debt (hence the name Bankers’ Acceptance). That typically increases the negotiability of the BA and reduces the company’s cost of borrowing. A fee is charged as compensation to the Bank for accepting the BA.

Participatory investment Certificate

Similar to a Banker's Acceptance except that the product matches investors with borrower for longer periods and tax is deducted at source. Term up to 365 days.

Money Market Account

A higher yielding savings account, interest is calculated on minimum monthly balance and paid at the end of each month. These accounts are available in the following currencies local, USD and EUROS.

Caribbean Financial Advisory Services

Our CFAS team can leverage the expertise of our global partners to deliver trusted insights and solutions for focused set of products and services to corporations, institutions, investors, asset managers, private equity, and governments.