Services
Presenting products and services that are right for you
Table of Contents
TRADE SERVICES
International Fund Transfers
Irrespective of where our customers reside, First Swiss Bank Plc. offers a secure and efficient service in relation to inward and outward payments. First Swiss Bank Plc Account Officer will advise on the best way to establish a secure and efficient method of communication.
First Swiss Bank Plc offers cross border transfer of funds for inward and outward payments related to all trade settlements, capital investments and unilateral funds transfer in all major currencies. Payments can also be effected collectively in ‘bulk’ in order to maximize settlement efficiency and reduce costs.
Payments can be offered on a same day, next day or spot value date, thus ensuring that the customer’s requirements are met in a timely manner. Standing instructions are also offered, providing the facility to effect repetitive payments in line with the customer’s business requirements.
For further details, call our Customer Management Department on +41XXXXXXXXXX or send us an email.
Documentary Collections
Documentary Collections offer exporters/sellers greater security than trading on open account. However this payment collection method does not offer the protection of a letter of credit. In documentary collections, the bank liability is limited to the forwarding and release of documents against payment, and the acceptance or promise of payment (letter of undertaking) by the importer. Unlike letters of credit there is no separate undertaking by the bank guaranteeing payment to the importer.
First Swiss Bank Plc offers you the standard Documentary or Cheque/Bills of Exchange/Promissory Notes Collection service.
For further details, call our Trade Finance team on +41xxxxxxxxxxx or send us an email.
Bonds & Guarantees
A demand guarantee may be defined as a signed undertaking, however named or described, providing for payment on presentation of a complying demand.
The majority of demand guarantees are payable on first written demand without any additional documents. However it is not uncommon for the demand to be accompanied by a statement of breach of contractual agreement.
Demand guarantees can be made subject to the Uniform Rules for Demand Guarantees (2010) International Chamber of Commerce, Publication 758 and would subject to the governing law in the country of the issuer or as stipulated in the text of the guarantee.
Typical uses for demand guarantees include construction contracts and contracts for the international sale of goods.
Whereas the letter of credit is used to ensure that the supplier is paid and thus an instrument of payment, demand guarantees are intended to safeguard the buyer against non-performance which would make them an instrument of default.
This service is combined with personal assistance in the vetting of texts of guarantees and counter-guarantees. We can also provide you with expert opinions on the routing/custom of guarantees in specific markets. In addition we can offer trade structures and solutions revolving around guarantees.
For further details, call our Trade Finance team on +41xxxxxxxxxxx or send us an email.
Letters of Credit
The Letter of Credit (LC) is widely regarded as the main trade finance instrument of payment. It offers a secure method of payment guaranteed by a bank subject to the beneficiary complying with all the terms and conditions indicated in the letter of credit.
The buyer derives comfort from the knowledge that his bank would only pay upon submission by the seller of the required documents, within the time frames stipulated in the letter of credit. On the other hand the seller has the security of knowing that, provided he complies with the terms of the LC, there is an undertaking of payment issued by the issuing bank.
First Swiss Bank has a wealth of experience related to letters of credit and we invite you to tap into this expertise by contacting one of our trade specialists for any queries that you might have. The success of your business transaction may depend on it.
Special Types of Letter of Credit
Transferable letter of credit: The first beneficiary (the seller) may request the paying, accepting or negotiating bank to make the credit available in whole or in part to one or more second beneficiary (ies).
Back-to-back letters of credit: A separate outward LC ( or LCs) mirroring the terms of an inward letter of credit. This is ideal for traders seeking import letter of credit facilities and an alternative mechanism to that offered by a transferable letter of credit.
Standby letters of credit: Standby LCs are used as either an instrument of default (similar to bonds and guarantees) or else as a payment instrument in their own right. They have the additional benefit of being subject to either UCP600 or ISP98 (International Standby Practices 1998) both of which are published by the International Chamber of Commerce.
Revolving letters of credit: Useful in covering regular consignments of goods over a span of time. LCs are made available for a specific amount to be availed of within a specified period. The amount of the LC can revolve automatically or by means of an amendment to the letter of credit.
Red/Green Clause letters of credit: These types of LCs enable the beneficiary to obtain pre-shipment finance for the procurement of raw materials / goods. Green Clause letters of credit also require that the goods financed are warehoused (to be supported by documentary evidence).
Additional Value-added Support on Letters of Credit:
Apart from issuing, advising, confirming, negotiating and effecting payment of Letters of Credit, First Swiss Bank further extends its service, by providing you with:
- Expert opinion on LC terms and conditions, including the interpretation of specific clauses of Letters of Credit and suggestions for necessary modifications;
- Assistance in the preparation of the required documentation;
- Checking of documents within a short time frame for special circumstances;
- Personalized attention at all times to ensure the success of the transaction;
- Structuring of trade involving the use of LCs in order to provide the ideal solutions for traders and exporters
All letters of credit that are handled by First Swiss Bank are subject to the most recent edition of the Uniform Customs and Practice for Documentary Credits, which is currently the 2007 Revision, ICC Publication 600 (UCP 600).
For further details, call our Trade Finance team on +41xxxxxxxxx or send us an email.
Forfaiting
What is Factoring?
Factoring is a tailor made package of services designed to secure your debt collection and improve your cash flow offering you a competitive edge in your markets (domestic and abroad).
Companies trading on open account terms can assign their receivables to First Swiss Bank and benefit from:
1. Invoice/sales ledgering
2. Debt collection
3. Risk protection
4. Financing
How can you apply?
Please request a meeting by contacting us at:
Factoring Department
First Swiss Bank Plc.
Tel: +41XXXXXXXXXX
Fax: +41XXXXXXXXXX
E-mail
Factoring in the World
There are more than 3,000 factoring companies registered in more than 70 countries worldwide. The turnover of businesses using factoring services exceeded EUR 1,648 billion, out of which more than EUR 246 billion represents cross border business. There are several international and national factoring associations promoting this service and its variation in the different national markets and internationally in order to assure a global standard vision of this industry.
banking Services
Term Deposits
First Swiss Bank Term Deposit is the right product if you want an investment where you know exactly what return you will receive and when to expect it.
With a First Swiss Bank Term Deposit you can choose between terms of six (6) months, one (1) year, two (2) years and three (3) years. Simply choose a term that suits your purpose, and your return is guaranteed for that fixed period.
The minimum deposit required to open a First Swiss Bank Classic Term Deposit is USD 25,000 or equivalent. Deposits are available in the three (3) main currencies although other currencies may also be considered. Terms and conditions apply and are available on request.
Experience our highest standard of efficiency and service. Call our dedicated global deposits team on Tel: +41XXXXXXXXXX or send us an email.
Financial Institution Services
First Swiss Bank has a worldwide correspondent banking network designed to support all areas of our international banking operations, while focusing primarily on those relationships that lend support to the Group’s trade finance and related services. Our Financial Institutions & Deposits team is responsible for the development and management of all Banking relationships, be it Nostros, referred to as our up-stream correspondents and Vostros, our downstream relationships.
In doing so, our Financial Institutions & Deposits team not only oversees the daily maintenance of the accounts but also actively promotes the establishment of reciprocal funding and global commercial limits. This Department is the main contact point for other financial institutions.
Since the Group’s core business bestows particular importance on trade finance activities in emerging markets, the Department also assumes area management responsibilities and is the primary source of information on these markets.
The services offered to financial institutions by First Swiss Bank include the full range of Correspondent Banking services such as:
- Accounts in all convertible currencies
- Relationship Management Authorization
- Establishment of Risk/Deal Participation Agreements
- Reciprocal Commercial Lines
- Syndications
For further details, call our Financial Institutions & Deposits team on +41XXXXXXXXXX or send us an email.
Correspondent Bank Network
BANK CREDIT DNPR
SWIFT: CRDEUA2N
Telex: 143 444 Gorod UX
Tel: +380 562 367.344
Fax: +380 562 333.972
Secure Email Notifications
First Swiss Bank considers the security of information related to our customers to be of the highest priority. First Swiss Bank Secure Email is a service offered by the Bank to this effect, enabling all customers to securely receive communication from the Bank such as notifications related to their accounts. This service ensures that confidential communication is protected against unauthorized access by means of industry-standard security that is easy for customers to use.
The First Swiss Bank Secure Email notification service is free of charge for all First Swiss Bank customers.
INSURANCE
INSURANCE |
First Swiss Bank brings you a range of flexible Financial Planning and Insurance products that help you realize your dreams and offer you protection against the unexpected. These exclusive products are designed to accumulate wealth and provide you and your family with insurance protection. The plans are versatile and can be tailored to suit your own individual requirements. |
For a free consultation with one of our Financial Planning Executives, or for more information, Please click here. |