Your Africa Trade Partner

With the start of AfCFTA (African Continental Free Trade Area), UBA is positioned to support global trade.

Facilitating Global Trade

International Trade is an ever-evolving business and we understand the complexities of the global market. Our products and services have been designed to ease your banking needs at any of our locations in 20 African countries, the UK, France, and the USA.

Trade with Ease

Letters of Credit/Collections

A letter of credit (LC) is an agreement that is irrevocable and thereby constitutes a definite undertaking of an issuing bank to honour payments requested by customers to exporters.

  • Duly completed Letter of Credit application form.
  • Customer’s instruction to buy foreign currency/Proforma invoice
  • Cover for the LC (credit security/Cash Collateral or against Fixed Deposit)
  • For collections no need for security but must be a UBA customer

Bank Guarantee

A bank guarantee is an assurance that a bank provides to a contract between two external parties, a buyer and a seller, or in relation to the guarantee. It acts as security for tender, performance and execution of payment contracts.

  • Duly completed Guarantee application form
  •  Tender document
  • Cover for the Guarantee (credit security/Cash Collateral or against Fixed Deposit). It can also be not covered for Bid guarantee depending on the customer banking history.

Invoice/Cheque discounting

Invoice discounting is an invoice finance facility when a company’s unpaid accounts receivable is used as collateral for a loan. Invoice discounting  companies enable businesses to leverage the value of their sales ledger.

  • Duly completed Invoice/Cheque discounting application form.
  •  invoice/ cheque to be discounted
  • Cover for the facility (credit security/Cash Collateral or against Fixed Deposit ). It may not be covered depending on the customer banking history.

FAQs

There is no limit for Letters of credit

Letters of Credit are opened for all goods provided they are not listed under the import prohibition list published by regulatory authorities

Yes, all goods for export (oil and non-oil) are subject to inspection

Mobile Banking

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Magic Banking

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