Early Payment of Import Credit Guarantee

You can liquidate your receivables with or without pre-financing and pay-out your suppliers.

Services at your disposal

You can manage the imports-exports of your business by selecting solutions awarded by Euromoney and Global Finance, two leading and trusted international financial publications.

Improvement of your balance sheets

You can improve your financial indices by scheduling your debt payments on a regular basis, pursuant to the trade cycle of your business.

Strengthening of business relationship

You can strengthen, as well as broaden your relationship with your suppliers or buyers. Additionally, you have the option to form long-term and beneficial trading relationships with them.

Immediate solution for your suppliers

You can become the most immediate solution with respect to supplier liquidity issues, without binding their credit line. Take advantage of your ability to participate in negotiations with them and your customers.

Do you want to discuss your needs?

You can contact an NBG representative regarding the trade services offered by the Bank.

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 Digital Banking is now simpler than ever

Digital Banking is now simpler than ever

Choose Digital Banking for your business. You can get so many advantages in just one move.
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i-bank Trade Finance

Manage the trading transactions of your business online, through an awarded platform.

Value chain financing

You have the option to finance your entire supply chain, thus helping the scheduling of cash flows.

Outward Orientation

You can insure the products you export against specific risks, in cooperation with NBG and the Export Credit Insurance Organization.
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NBG's digital transformation always takes mature and stable steps. This way it becomes a catalyst for us, aiding our operations.
Gianna Ioannidou
Managing Director at All Web Solution SA

I want to improve my imports

You can gain many benefits through our trade services, irrespectively of whether you have a small or medium-sized business.

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Do you want more information?

It is an irrevocable and independent commitment on behalf of the Importer’s bank (Primary debtor) to pay the Supplier up until a specific amount, within a specified time frame, by presenting the prerequisite documents.

As an Importer, you can pay your supplier only if said terms and conditions of the Letter of Guarantee (timely loading / document procurement) have been met. Additionally, you have access to trade credit (e.g., 60 to 120 days) due to the coverage of the payment through the Letter of Guarantee. 

The documents you have to submit are the following: 

  • Framework Contract of the Terms of Issuance of the Letter of Guarantee 
  • Application for the Issuance of a Letter of Guarantee 
  • Supporting documents on a case-by-case basis (Contract, Pro-form invoice, Invoice, Certificate of Representative, etc.) 
  • Procurement of Periodic V.A.T. Statement 
  • On a case-by-case basis additional documents may be required, such as the Minutes of BoD meeting, etc.) 
  • A current approved customer credit line is a prerequisite 

The documents we will need from you are the following: 

  • Framework Agreement of the Terms of Issuance of the Letter of Guarantee
  • Application for the Issuance of a Letter of Guarantee 
  • Supporting documents on a case-by-case basis (Contract, Pro-form invoice, Invoice, Certificate of Representative, etc.) 
  • Presentation of Periodic V.A.T. Statement 
  • On a case-by-case basis additional documents may be required, such as the Minutes of BoD meeting, etc.) 
  • A current approved customer credit line is a prerequisite 
Provided that you have determined the terms for the guarantee with the supplier, it will take two days.  
Provided that you have determined the terms for the guarantee with the supplier, it will take two days.  

Both the importer and you, the exporter, have multiple benefits to gain:

For the Importer: 

  • Ability to avoid the addition of a Certification of Letter of Guarantee for the Beneficiary 
  • Access to trade credit 
  • Scheduling of debt payments on a regular basis, pursuant to the trade cycle. 
  • Pre-agreed controllable cost, pursuant to the circumstances of the Greek market. 
  • Increased room for negotiations 
  • Strengthening of relationship with strategic suppliers 

For the Exporter: 

  • Increased liquidity through the early payment of the future Letter of Guarantee. 
  • Improvement of financial indices and ability to schedule the collection of receivables on a regular basis.
  • No binding of their credit line. 
  • Elimination of country / Bank risk. 
  • Simple procedures, fast document handling. 
  • Maintenance and broadening of relationship with their customers. 

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