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Export Solutions

Products and services specifically designed to help exporters manage risk and cash flow.

Why choose Suncorp to support your exporting business?

Make the most of your exporting business opportunities with finance options that support your unique needs.With Suncorp, you’ll have a dedicated relationship manager to help you choose options to maximise your cash flow and minimise your risk. 

Our fees and charges for export solutions are competitive and are based upon the type of product chosen, and the value of the transactions in question.

Please call us on 1800 281 056 to discuss your options with one of our Trade Finance Specialists.

Export Documentary Collection

How it works

  • Once you have shipped the goods to the buyer, present the necessary documents, together with your handling instructions,to us;
  • We will then forward the documents to your buyer’s Bank for acceptance of a Bill of Exchange promising to pay on an agreed future date or immediate payment.We act on your behalf as your collecting agent.

Your options

Documentary Collections can be issued in 2 ways:

  • On a 'sight' basis (D/P - documents against payment) meaning that a Bill of Exchange is drawn for immediate payment, once your buyer’s bank receives the shipping documents, or
  • On a ‘term’ basis (D/A – documents against acceptance) meaning that Bill of Exchange is drawn for payment at a future date - e.g. 30 days after sight, 90 days from bill of lading date,or at a nominated fixed date.

Why choose Documentary Collection?

  • No credit facility required
  • Documents and payment collections are handled through the banking system on your behalf
  • Suncorp monitors the collection process from the date documents are despatched to the importer’s bank, right through to receipt of payment
  • More secure than open account trading. Payment risk is reduced by the control of documents and goods through the Banking system*
  • Simple cost-effective payment alternative to Documentary Letters of Credit
  • Available in all major currencies
  • Documentary Collections are governed in accordance with the International Chamber of Commerce (ICC) - Uniform Rules for Collections which clearly defines the responsibilities of different parties, along with interest and expense issues

Export Documentary Letter of Credit

How it works

  • The importer (buyer) initiates a Documentary Letter of Credit, which is then issued by the importer’s bank. It constitutes a formal undertaking by the issuing Bank, to honour drawings, providing all the defined terms and conditions contained within the Documentary Letter of Credit have been met.
  • Once you (the exporter) have met the conditions of the Documentary Letter of Credit, your buyer’s bank should issue payment.

An Export Documentary Letter of Credit is typically requested when you have yet to establish a strong relationship with your buyer, or when you are unsure of the importer's or buyer's ability to pay for goods. It cannot be amended or cancelled without agreement or consent of all parties

Why choose this option

  • No credit facility required
  • Establishes confidence in the credit worthiness of your buyer and can help to reduce commercial risk
  • Payment security offered allows the exporter to safely develop new business relationships and opportunities
  • An Export Documentary Letter of Credit cannot be cancelled, nor can conditions be altered without the consent of all the parties
  • The export documentary letter of credit issuing (importer’s) bank guarantees that, providing you have met all the terms and conditions of the letter of credit, they will effect payment.
  • In the case that all the terms and conditions have not been met, control of goods can be maintained up until the point that the issuing (importer’s) bank obtains approval by the importer, and releases shipping documents to your buyer. Release of shipping documents by the issuing bank constitutes a formal undertaking to honour your drawing in accordance with the payment terms contained within the Documentary Letter of Credit
  • Available in all major currencies
  • Documentary Letters of Credit are issued subject to the International Chamber of Commerce (ICC) rules for Bank to Bank Reimbursements under the Documentary Credit and Uniform Customs and Practice for Documentary Credits current at the time 

Important things to note:

  • Before you accept an Export Documentary Letter of Credit, you should ensure that you are able to comply with all the terms and conditions. If not, an amendment should be requested immediately. Your Suncorp Trade Finance Specialist can assist by checking the workability of the letter of credit and highlighting any potential issues.
  • Under a letter of credit, the issuing bank’s credit worthiness is substituted for that of the importer/buyer. Overseas bank and country risk can be eliminated by asking Suncorp to confirm or add their guarantee to the documentary credit. This is reviewed on a transaction-by-transaction basis and subject to approval

Ready to apply?

Our Trade Finance Specialists are dedicated to supporting your growth in international markets by offering a competitive range of import and export products, tailored to suit your business needs.

If you need some help deciding which option is best for your business, please call us on 1800 281 056 to talk to one of our Trade Finance Specialists.

International Trade Products are provided by Suncorp-Metway Ltd (“Suncorp Bank”) ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence number 229882. To approved applicants only. Fees, charges, terms and conditions apply and are available on request.

A foreign currency facility is affected by exchange rate movements that may result in a higher net funding cost (i.e. exchange rate movements may cost you more or cause you losses). Suncorp Bank has products available that can help minimise the financial risks associated with exchange rate movements. Suncorp Bank recommends that a customer with a foreign currency facility seek independent financial advice in respect of the risks associated with such a facility and the financial products available to help minimise that risk.