We can help you manage your export documents so that you can devote more time to growing your business. You’ll find this process is more cost effective than a documentary credit, due to its simpler process. In addition, the complete documentary collection process is monitored and is available in most major currencies.
We can help with the process surrounding your documentary credit. Upon receipt of documents from you, Westpac checks that the terms and conditions of the documentary credit have been complied with, before forwarding the documents to the buyer’s bank.
We can provide you with short term, post-shipment finance by negotiating (or buying) the bill of exchange for up to 100% of its face value.
Export Finance Australia Export Working Capital Guarantee (EWCG) is a direct guarantee to secure financing that Westpac extends to its small to medium sized export customers.
Where you are unable to assess the issuing bank or country risk, ask us about confirming your documentary credit.
- Guarantees payment by Westpac against compliant documents, even if the documentary credit issuing bank is unable to make payment
- Often useful for transactions with buyers in developing countries.