Page 8 - Trade Finance Profile
P. 8
PROCEDURE
Payment of the Supplier Procurement of Product
Using our foreign exchange
payment licensing with the 1
Reserve Bank, Turners Shipping The importer places an order with
their supplier and provides Turners
will pay the supplier in Shipping with an irrevocable
accordance with the importer’s payment instruction including the
transaction detail.
supplier’s terms.
2
International Customs Clearing
and Freight Forwarding Trade Finance Invoicing
Turners Shipping is able to handle 3
the overseas landside logistics, Once payment is booked and proof
of payment is provided through
the foreign customs clearing and SWIFT con?rmation, Turners
the freight forwarding to South Shipping invoices the importer in
Af rica. ZAR at the booked spot rate.
Customs Clearing Invoicing 4
Turners Shipping prepares a
Customs Clearing Invoice in South African Customs
accordance with the importer’s 5 Clearing and Delivery
facility. The invoices are payable in Local customs clearing is
completed by Turners Shipping
ZAR. and the product is delivered to a
general or bonded warehouse or to
www.turnerstradefinance.co.za the importer’s choice of
6 destination.
7 Payment to Turners Shipping
Once the importer’s underlying
transaction (that has been funded
through Trade Finance) has been
liquidated, payment is made over to
Turners Shipping. Terms of up to
120 days from invoice are available.
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