The process cycle for application for trade finance facilities follows the following sequence:
- A preliminary review is carried on the received application.
- Indicative terms are negotiated and agreed.
- An appraisal and due diligence is carried out and a report compiled.
- If results of the appraisal are positive a credit proposal is drawn up and submitted to management and the Credit Committee for approval.
- Upon approval documentation is put in place and the facility is disbursed according to the requirements of the trading cycle.
For this process to proceed smoothly and quickly applicants are required to provide comprehensive information about the transaction and the parties involved. The information should be in a financing proposal that clearly spells out the background and current information on the applicant, how the facility will be used and of course financial analysis and forecasts. During due diligence additional information and further disclosure may be requested. The speed with which the application will be processed largely depends on the availability and quality of the relevant information.
Please see "Guidelines On Required Information" for assisstance.