Finport was approached by an Australian SME, looking for a trade finance solution in order to import a specialised machine for glass bottling. Note the supplier was based in Europe and required a deposit, then a final payment in order for the machine to be shipped over to Australia. Amount drawn down Euro $200,000.
Finport requested from the SME the necessary information, in order to determine the credit quality of the Company. Please refer to www.finport.com , section “download
application” for the information we require for our credit committee.
Within 5 business days, from the request for financing, Finport was able to confirm in
writing, the terms and conditions of the facility. IE
EURO $200,000 facility
Two drawdowns over a 4-week period.
Provide the supplier confirmation that the financing was available
We confirmed their bank details and authenticity of the transaction
Provided the EURO’s to the supplier and hedge the transaction for the buyer
Provided a low-cost freight alternative to ship the machine from Europe
The trade finance solution provided the client, with a cost effective, facility.
NB Given the known dates of the draw down, we waived all non-utilisation fees and
provided an overall cost benefit by utilising our freight division and upfront financing.
Our client was able to
1. successfully negotiate a better price for the bottling equipment, as it was cash
settled with the supplier and in EURO’s (no lengthy LC "Letter of Credit")
2. The speed of accessing the credit and providing the necessary capital to purchase
the goods and
3. Cost efficient transportation costs
Contact you Finport specialist today on 1800 346767