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Trade

Trade

Trade

The personalised, first name basis of our trade business is the hallmark of this service. Our UK team handles trade between UK and other parts of the world, including India. You can get the advantage of the unmatched reach of State Bank of India, its associates, and correspondents spread across the globe. You can be assured of the expertise of our team of experienced personnel based in UK to handle all trade transactions, however complex. You can grow your business internationally by reducing the risks relating to payments.

We handle the types of trade transactions you need including LC advising, LC issue, Bills Negotiations, Discounting of Bills, LC Refinancing/Buyer’s Credits, etc.

Letters of Credit

Letter of Credit is a commitment given by the Bank on behalf of the applicant (Buyer) to make payment to the beneficiary (supplier) subject to presentation of documents strictly in conformity with the terms of the credit.

We undertake all activities relating to L/C such as Issuance, Advising, Confirmation, Negotiation and Collection to meet the end-to-end requirements of clients engaged in international trade.

Import L/C: We issue Import LCs on behalf of our customers (buyers) favouring overseas exporters (sellers) guaranteeing payments on fulfilment of the terms and conditions of credit. However these would require setting up of suitable limit for which you are welcome to contact our Credit team.

Export L/C: We also advise L/Cs received by us from another Bank to the beneficiaries either directly or the through their Bankers.

LC Confirmations: We take care of payment risks relating to overseas buyer, L/C issuing bank and other risks associated with the country of issue of credit by adding our confirmation to the letter of credit. These would, however, be discretionary and we would take a view on our perception of risks associated.

Collections

It is a more secure process for payments than trading in open accounts. Documents relating to import and export trade transactions are universally routed through the banking system for collection of proceeds which offer security due to uniform applicability of rules.

Export Collections (Outward bills) are sent on behalf of exporters to importer’s bank for realising proceeds. Exporters can exercise control by instructing the bank to deliver documents either against acceptance or payment by the importer.

Import Collections (Inward bills) are sent to the Bank by the overseas exporter for receiving payments under the bill.

We undertake both Import and Export collection for bills, either under Letters of Credit as well as non L/C bills.

Trade Finance

Trade Finance is a means to support international trade by providing fund based Loans either to exporter or importer.

We offer trusted financial solutions both for exporters and importers. Customers can rely upon our Trade Finance department to arrange finance for their trade related requirement.

Buyer’s Credit: We finance imports into India/other countries at very competitive rates against the Letter of Undertaking issued by Importers’ Bank. We provide this facility for exports from most of the countries. However, we would be discretionary and would take a view only after discussing your requirements.

Bill Discounting: We provide facility for discounting/purchase export bills from exporters, which need not be UK based. We would be able offer this facility backed by LCs of major Banks. However we would need to set up suitable limits for you before we provide this facility on Non LC basis for which you are welcome to approach our credit team in UK.

Contact Us

For your trade requirements, please contact us at the following numbers:

  Telephone Email
L/C queries 020-7454 4365/4399
L/C Advising desk 020-7454 4319
L/C Negotiation desk 020-7454 4405/4380
Dy Manager (Trade) 020-7454 4317 dymgr.trade@sbilondon.com
Manager (Trade) 020-7454 4305 mgr.trade@sbilondon.com


Fax: 020-7454 4426