MaxTrad
Our secure online platform lets you manage your international trade transactions from anywhere, 24 hours a day.
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Important Notice about Closure to New Business
These products are no longer available for sale. Ulster Bank Ireland DAC is no longer accepting any new application requests from business customers effective 2nd November 2022. There are some exceptions to this for existing customers, for more information click here.
Trade Finance
Solutions to suit your international banking needs
Existing customers only. Terms and conditions apply. Subject to credit approval. Security may be required. Product fees may apply.
We have three types of trade finance
Thanks to our expertise in global trade finance, we could help you by improving your companies cashflow, and gaining control over your imports and exports. Our trade finance products aim to ensure any risks are mitigated and provide you and your trading partners with reassurance.
Letters of credit
Reduce trade risk. Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
Import Letters of Credit are subject to credit approval.
When importing and exporting a Documentary Letter of Credit (LC) is one of the most secure methods of settlement. They are irrevocable and cannot be cancelled unless all parties agree
Import Letter of Credit:
- Import Letters of Credit are our commitment to pay your supplier on your behalf. Or for exporters guarantee of payment before you commit to sending goods.
- Import Letters of Credit are a conditional bank guarantee of payment
- Payment is made upon Ulster Bank's receipt of the financial and commercial documentation (Bills of Lading, Invoices, Packing list etc) subject to the terms and conditions of the L/C having been met.
Export Letter of Credit
- A conditional bank guarantee of payment received on your behalf from another bank.
- If you are the seller, it guarantees receipt of payment by the buyers’ bank upon representation of the financial and commercial documentation (as above) subject to the terms and conditions of the L/C being met.
If you are an existing customer, we’re here to help.
• Speak to your Relationship Manager or
• Phone our dedicated telephony team on 0818 211 690 (Republic of Ireland) Or if calling from abroad 0044 2890 538459
Documentary Collections
Cover your business against performance risk. Negotiate new payment terms with suppliers, offering better security for both sides.
Does your business need to make and receive overseas payments through the international banking system? Collections could be the answer. They provide a universally recognised method for settling overseas trade debt. Collections could improve your cashflow, add security and are cost-efficient and easy to use.
Import collections
- Consists of a financial instrument (i.e. Bill of Exchange) together with other commercial documentation (i.e. Bills of Lading, Invoices, Packing List etc) needed to take delivery
- Documents are released in exchange for immediate payment or endorsement of the bill of exchange as an undertaking to pay at a future agreed date
Export collections
- Consists of a financial instrument (i.e. Bill of Exchange) together with other commercial documentation (i.e. Bills of Lading, Invoices, Packing List etc) needed by buyers to take delivery
- Documents are released to the buyer in exchange for immediate payment or endorsement of the bill of exchange as a promise to pay at a future agreed date
If you are an existing customer, we’re here to help.
• Speak to your Relationship Manager or
• Phone our dedicated telephony team on 0818 211 690 (Republic of Ireland) Or if calling from abroad 0044 2890 538459
Bonds, Guarantees & Standby Letters of Credit
Give your trading partners and customers confidence. Bonds and guarantees give your international suppliers more reassurance, as long as they meet the terms of the sales contract.
Bonds, Guarantees and Standby L/C’s are subject to credit approval.
Give your trading partners and customers confidence. Bonds, guarantees and Standby Letters of Credit give buyers the security of a financial guarantee in the event of the seller's failure to meet its contractual obligation. If the seller fails to deliver the goods or services as described in the contract with the buyer, the latter can 'call' the Bond, Guarantee or Standby Letter of Credit to receive financial compensation from the bank.
Types of Guarantees:
- Bid or Tender Bonds - Issued by the supplier in support of a contractual tender.
- Performance Bond - Issued by the supplier in order to support their performance obligations under the commercial contract.
- Advance Payment and Progress Payment Guarantees - Issued by the supplier when the buyer has provided a down payment for the supply of goods or services.
- Payment - The supplier receives a Guarantee from the buyer to support their financial obligations under a commercial contract.
- Customs Bonds / Custom Duty Deferment Guarantee / H.M. Customs&Excise Guarantee - This allows a company to defer payment of duty or tax.
- Standby Letter of Credit - Covering a buyer's financial obligation in relation to the purchase of goods and services in Northern America.
If you are an existing customer, we’re here to help.
• Speak to your Relationship Manager or
• Phone our dedicated telephony team on 0818 211 690 (Republic of Ireland) Or if calling from abroad 0044 2890 538459