Import Services

Samba Financial group offers a range of products to facilitate and finance your import needs. Our qualified staff will ensure that you get the best and prompt service. There are several ways in which you, as a buyer, can finance your imports of goods.

Import Letters of Credit

For centuries, exporters and importers have used Letters of Credit as one of the most common methods of financing the exchange of goods and services. As an instrument, it is a written undertaking by Samba (the issuing bank) given to the seller (beneficiary) at the request and on the instructions of the buyer (applicant) to pay at sight or on a determinable future date a stated sum of money within a prescribed time limit and against stipulated documents, provided that the terms and conditions of the letter of credit are complied with. In other words, the bank substitutes its creditworthiness for that of the buyer.

Import Documentary Collections

Samba handles financial and/or commercial documents according to the instructions received in order to obtain payment and/or acceptance or to deliver documents against payment and/or against acceptance or to deliver documents on other terms and conditions.

Banker's Acceptance

A bankers' acceptance is a short-term credit instrument, most commonly used in international trade. It can be created under letters of credit.

Guaranteed Collections (Aval)

Samba can guarantee the payment of a time draft drawn under an import documentary collection by giving its aval. By signing the time draft, the bank commits itself to unconditionally pay the drawer, should the other party default.

Bills Discounted

The discounting of usance drafts and bankers' acceptances (the bank's own acceptances or acceptances of other banks) covering the shipment and sale of merchandise is offered. This product allows the seller or exporter of goods to receive immediate payment for a shipment while the buyer or importer need not make the payment until maturity of the draft.