Financing of Imports of Union Bank of India has always been a very important part of International Trade. Union Bank provides finance against Import Bills, issues Letters of Credits, etc.

Letter of Credit

The features of the Letter of Credit (LC) facility offered under Non-Fund Based Finance by Union Bank of India are as follows:

NON-FUND BASED FINANCE

Letter of Credit (LC)
Union Bank of India offers Letter of Credit facility favouring overseas suppliers to facilitate easy import of goods.
LC facilities are provided for -
• Cash imports on sight or usance upto to a period 360 days of shipment and
• Less than 3 years in case of capital goods.


Import Bills Collection/Payment
Union Bank of India handles Import bills/documents received from the seller/seller’s Bank on collection basis on competitive service charges.

FUND BASED FINANCE

External Commercial Borrowings

ECB-
Bank facilitates corporate in sourcing their External Commercial Borrowings and Trade credits in Foreign Currency, for permitted purposes.

Trade Credits-
Bank also arranges Buyer's Credit from its Foreign Branch for importers at competitive rates.