Trade Finance by Turners Shipping
Turners Trade Finance offers significant benefits to South African importers and exporters by unlocking cash flow and providing a single point of contact throughout the logistics process: from the moment the order is placed, through the shipping and customs clearing, right up to the point of local distribution.
Trade finance provides businesses with the cash to fund the purchasing and import of inventory.
The Trade Finance solution from Turners Shipping (Pty) Ltd is unique in that we support the finance component with our vast experience and ability in logistics management. As such, we are able to provide an exhaustive reporting and tracking service for each shipment, enhancing effective communication.
The overall objective is to allow importers and exporters the time to concentrate on running and growing their own businesses while Turners Shipping attends to their total logistics supply chain requirements – including cash flow.
Our Economy & Importers
International trade is an integral part of supplying goods for the domestic market and while importers can benefit from the cost advantages of sourcing goods globally, they must weigh these up against longer lead times, supply chain disruptions, and the need for larger inventory levels.
In addition to this, our economy is highly vulnerable to interest and foreign exchange risks and the condition of the domestic monetary market and political climate can greatly influence the way a company finances its cash flow. As South Africa relies heavily on imports, exchange rate volatility has a direct, and often, negative impact on trade and margins.
Now, more than ever, importers need to manage the financial supply chain and take comfort in a reliable physical supply chain. We provide an innovative ‘Start-to-Finish’ trade finance facility which is designed for the South African importer. This bespoke service is the result of combining a Trade Finance element with our Freight Forwarding and Customs Clearing services, delivering a fully integrated and tailored supply chain package.
The concept behind our Trade Finance facility is to combine the financing of imports and exports, and the logistics of getting the products to their destination, all into a single integrated system.
- Features and advantages:
- Unlock working capital and cash flow
- End-to-end transaction costing and full shipment visibility/tracking
- Operational efficiencies of dealing with one supply chain partner
- B-BBEE procurement points advantages
- Effective hedging options to manage forex risk
- Industry-competitive rates and terms
- No ‘Letter of Credit’ costs or complications
- Potential discount opportunities with suppliers
- Simple payment processes
- Best practice principals
- Regular operational meetings (Stakeholders/service providers)
- Approved Key Performance Indicator (KPI)
- Sanctioned Service Level Agreement (SLA)
- Agreed Standard Operations Procedure (SOP)
- Shipment Status Reports
- Purchase Order Management Systems (POMS)
- IT connectivity to and integration with the Importer/Exporter/Client
- Most competitive rates practice