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Types of trade finance Open in new window
Frequently asked questions Open in new window
Existing Trade Customers Open in new window
Enquire now Open in new window
Solutions to suit your international banking needs

Give your business a lift with Trade Finance

Flexible funding and expertise to help bring your trading plans to life

Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. 

Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.

Our Trade Services Terms and Conditions are available here.

We have three types of trade finance

Thanks to our expertise in trade finance, we could help you by improving your companies cashflow, and gaining control over your imports and exports. Our trade finance products aim to ensure any risks are mitigated and provide you and your trading partners with reassurance.

Letters of credit

Reduce trade risk. Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.

Import Letters of Credit are subject to credit approval.

When importing and exporting a Documentary Letter of Credit (LC) is one of the most secure methods of settlement. They are irrevocable and cannot be cancelled unless all parties agree

Import Letter of Credit:

  • Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
  • Import Letters of Credit are a conditional bank guarantee of payment
  • Payment is made upon Ulster Bank's receipt of the financial and commercial documentation (Bills of Lading, Invoices, Packing list etc) subject to the terms and conditions of the LC having been met.

Export Letter of Credit:

  • A conditional bank guarantee of payment received on your behalf from another bank.
  • If you are the seller, it guarantees receipt of payment by the buyers’ bank upon representation of the financial   and commercial documentation (as above) subject to the terms and conditions of the LC being met.

Documentary Collections

Cover your business against performance risk. Negotiate new payment terms with suppliers, offering better security for both sides.

Does your business need to make and receive overseas payments through the international banking system? Collections could be the answer. They provide a universally recognised method for settling overseas trade debt. Collections could improve your cashflow, add security and are cost-efficient and easy to use.

Import collections

  • Consists of a financial instrument (i.e. Bill of Exchange) together with other commercial documentation (i.e. Bills of Lading, Invoices, Packing List etc) needed to take delivery
  • Documents are released in exchange for immediate payment or endorsement of the bill of exchange as an undertaking to pay at a future agreed date

Export collections

  • Consists of a financial instrument (i.e. Bill of Exchange) together with other commercial documentation (i.e. Bills of Lading, Invoices, Packing List etc) needed by buyers to take delivery
  • Documents are released to the buyer in exchange for immediate payment or endorsement of the bill of exchange as a promise to pay at a future agreed date

Bonds, Guarantees & Standby Letters of Credit

Give your trading partners and customers confidence. Bonds and guarantees give your international suppliers more reassurance, as long as they meet the terms of the sales contract.

Bonds, Guarantees and Standby L/C’s are subject to credit approval.

Give your trading partners and customers confidence Bonds, guarantees and Standby Letters of Credit give buyers the security of a financial guarantee in the event of the seller's failure to meet its contractual obligation. If the seller fails to deliver the goods or services as described in the contract with the buyer, the latter can 'call' the Bond, Guarantee or Standby Letter of Credit to receive financial compensation from the bank.

Types of Guarantees:

  • Bid or Tender Bonds - Issued by the supplier in support of a contractual tender.
  • Performance Bond - Issued by the supplier in order to support their performance obligations under the commercial contract.
  • Advance Payment and Progress Payment Guarantees - Issued by the supplier when the buyer has provided a down payment for the supply of goods or services.
  • Payment - The supplier receives a Guarantee from the buyer to support their financial obligations under a commercial contract.
  • Customs Bonds / Custom Duty Deferment Guarantee / H.M. Customs & Excise Guarantee - This allows a company to defer payment of duty or tax.
  • Standby Letter of Credit - Covering a buyer's financial obligation in relation to the purchase of goods and services in Northern America.

Enquire now

  • If you're an existing customer, please contact your Relationship Manager for more information on how our Trade Finance products could help your business.
  • If you don’t have a relationship manager and / or you're a new bank customer then please call: 03457 114 477

Existing Trade Customers

Thanks for choosing Trade Finance. If your Relationship Manager has confirmed you have a credit line in place to support this request, access the relevant application form below.

Bonds, Guarantees and Standby Letters of Credit

To request a Bond, Guarantee or Standby Letter of Credit you must be an existing Ulster Bank  Business Customer. Please contact us if you are not an existing business customer.

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Amend existing Bond, Guarantee or Standby Letter of Credit

Whether you need to amend the amount, expiry date, beneficiary or guarantee wording, you can do so quickly and easily by filling out our simple amendment form below.

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Request new Letter of Credit

To request a Letter of Credit you must be an existing Ulster Bank Business Customer. Please contact us if you are not an existing business customer.

Information Message

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Amend existing Letter of Credit

Whether you need to amend the amount, expiry date or date of latest shipment, you can do so quickly and easily by filling out our amendment form below.

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Export Collections

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Are you an existing Ulster Bank business customer?
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Have you previously used documentary collections with us?
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Please use our downloadable application form below. Simply print, fill in, and send to us with your shipping documents to the address on the application form.

 

Export collections application form (PDF, 83KB)

 

Please bear in mind when submitting an Export Collection application, further approvals may be needed.

 

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Contact us

Please contact your Relationship Manager or give our SolutionsLine team a call on 03457 114 477

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Please contact our Business Lending team for more information.

If you have a working capital requirement, give us a call on 03457 114 477

Customers with hearing and speech impairments can contact us by using our Relay UK Service: 18001 03457 114 477.

Mon to Fri 9am-5pm (excl.public holidays).

For more information on accessibility visit: https://www.ulsterbank.co.uk/business/accessibility.html

Calls may be recorded for training and monitoring purposes.

To see how much your call might cost, visit the call charge information page.

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Frequently asked questions

4 reasons to choose Ulster

We’re open for UK businesses

We're helping so many businesses across Northern Ireland. Why not be part of the success?

We’re experts in most fields

We have customers in most sectors, so you can be confident with our expertise and support.

We offer a support network

You'll receive your own Relationship Manager (turnover and eligibility criteria apply).

Our app makes it easier for you

With fantastic features, our app can do the heavy lifting, so you can focus on your business. (eligibility criteria applies).

Something else we can help you with?