In the complex and ever changing world of international trade, it's very important that your bank knows the ins and outs of trade financing. For over two decades, Far East National Bank has assisted small international businesses by providing this level of expertise and a complete range of trade finance services at the local level. For example, we can turn out a letter of credit within 24 hours. If necessary, we can even get it done the same day. Whatever your needs are in the world of international trade, you can rely on Far East National Bank for professional and prompt service.
If you need to guarantee performance or financial obligations for any transaction or project, we can help you issue a standby letter of credit with the language necessary to protect your interest and obligation, yet satisfy the requirements of the beneficiary.
If you export under a letter of credit, we can negotiate your drafts and documents and claim payments under the letter of credit. Along with the assurance of dealing with a knowledgeable bank, you will enjoy the convenience of having the proceeds of your transaction credited directly to your account as soon as payment is received.
Giving your foreign suppliers the guarantee for payment upon shipment is an important priority, so we have the international background necessary to issue letters of credit directly through any of our correspondent banks located in every major city in the world within 24 hours.
If you sell to an established buyer on a sight/usance draft basis, Far East National Bank can be your collecting agent. We send the documentary collection directly to our foreign correspondent and upon receipt of payment, we will credit proceeds to your account.
If you buy from a foreign supplier on a sight/usance draft basis, you can leave the details of delivery of documents against payment to Far East National Bank. When you accept the documents, we simply debit your account and instruct our correspondent bank to pay your supplier.
Whether you are importing or exporting, there will be times when you require financing beyond your normal working capital needs. Far East National Bank can help you identify alternative sources of trade financing including special function letters of credit, e.g. assignment, transferable, discount accepted drafts, etc. that may be available to fund special contracts.
We can also help you access Federal or State export credit programs to finance foreign sales. These programs include export working capital loans guaranteed by the California Export Finance Office, Small Business Administration and Export Import Bank of the U.S.