Export Finance

Export Finance

Access to Export Finance

What is Export Finance?

Export financing describes the activity of lending organisations helping businesses by financing their export acitivites. It promotes trades as it provides an opportunity for businesses who would otherwise not have been able to trade internationally due to financial constraints.

UK Export Finance

What do they do?

They are the UK’s export credit agency. They help UK exporters by providing insurance to exporters and guarantees to banks to share the risks of providing export finance. In addition, they can make loans to overseas buyers of goods and services from the UK. UK Export Finance is the operating name of the Export Credits Guarantee Department (ECGD).

UKEF is a ministerial department, supported by 1 public body.

Read more about what they do

EXPORT PAYMENT METHODS

A crucial part of any transaction is ensuring you get paid. There are different payment methods which you should consider.  These are:

  • Cash in Advance
  • Documentary Collections
  • Open Account
  • Documentary Credits or Letters of Credit

Detailed information can be found by clicking here

 

LETTERS OF CREDIT

Getting paid on time and securely is the most important financial consideration when embarking on international trade; using a letter of credit helps to avoid these pitfalls.

What is a Letter of Credit?
A Letter of Credit is a written guarantee by a bank assuring payment for goods. It will have strict terms specifying both the amount of money to be paid and within what time frame. If all the conditions are met, payment is guaranteed.

How can we help?
Hampshire Chamber of Commerce is working in partnership with Bristol Chamber of Commerce to offer a Letter of Credit Checking service. We also have members of the Chamber who offer this same service. If you would like to know more please contact the International Trade team on 01329 242420.

FOREIGN CURRENCY

Hampshire Chamber of Commerce via the British Chambers of Commerce has partnered with exchange experts, Moneycorp to provide money saving foreign exchange to Chamber members.  If you have international payment requirements Moneycorp can help you save hundreds, thousands, even tens of thousands every year.

Key Benefits

  • Bank-beating exchange rates - typically as much as 4% better than the banks
  • Expert market guidance at the end of a phone - Moneycorp's professional currency dealers can guide you through the foreign exchange market
  • Fast online money transfers 24/7 - trade at convenient times with online accounts and live rate information
  • Safeguarded client funds - Moneycorp is authorised and regulated by the Financial Conduct Authority to provide payment services and safeguards all client funds in segregated customer accounts

Exclusive Member Package

Free foreign exchange health check
Free assessment of your business's foreign exchange requirments, to help you pin-point where you could improve your margins

Low transfer fees
Our fees start from just £5, a substantial saving over the £20-£40 that banks typically charge

Free account opening
Buy and sell any of 35 currencies

Chamber Foreign Exchange will assess your

  • Exchange rates
  • Speed of payments
  • Credit terms
  • Transfer fees
  • Impact of currency movements on your payments
  • Credit terms
  • Online capabilities

Get in touch

To talk to us about our service please call tel. 0808 1635 138 e-mail chamberfx@moneycorp.com visit www.moneycorp.com/chamberfx

 

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We constantly strive to improve the products & services we offer and how they are delivered to you. Please let us know what we are doing well and any areas where you think we could be doing better.

Email your comments to Maureen Frost our Chief Executive at maureen.frost@hampshirechamber.co.uk

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