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How can NAB help me with my risk management?
What is the structure of the international service centre and how many people will I have to deal with?
What is a documentary letter of credit and how does it operate?
How can NAB help me to manage my foreign exchange rate risk?
What is the safest method of payment to use to minimise the risk of non payment by our buyers?
How can NAB assist me with overseas market information?
Does NAB have any electronic services to help me to handle my overseas and domestic trade transactions?
How can NAB help me with my risk management?
This is our area of expertise and the Supply Chain Finance specialists are responsible to support your overseas and domestic trade needs will fully discuss the various risks which include: Transport risk, credit risk, exchange risk and transfer risk. We can discuss the risk management alternatives available to best suit your business needs. More information can be found in the trade risks section of this site and in NAB's publication - Finance of international trade. A copy can be obtained by contacting your NAB Business Banker.
What is the structure of the international service centre and how many people will I have to deal with?
Our international service centres in each state in Australia are staffed by a highly skilled team of experienced and knowledgable people who can assist you with technical support. Your NAB Business Banker in conjunction with the Supply Chain Finance specialists responsible for supporting your business, will introduce you to the appropriate 'help desk' personnel to handle your particular trade processing needs.
What is a documentary letter of credit and how does it operate?
A documentary letter of credit is a 'method of payment' and may be described as an advice issued by a bank authorising the payment of money to a named party, the beneficiary, against delivery by the beneficiary of specified documents (usually accompanied by a bill of exchange for the amount to be paid) evidencing the shipment of described goods. The advice (letter of credit) sets out the strict terms and conditions that must be fulfilled in order for the payment to be effected. More detailed information is available in NAB's booklet - Finance of international trade.
How can NAB help me to manage my foreign exchange rate risk?
At NAB we can provide you with a forward exchange contract, currency option or you may choose to open a National Foreign Currency Account. Your Supply Chain Finance specialists can discuss the various alternatives according to your particular needs. More information is available in the trade risks section of this site and you can also refer to the relevant sections in NAB's booklet - Finance of international trade.
What is the safest method of payment to use to minimise the risk of non payment by our buyers?
The various methods of payment and degree of risk associated for traders are described in the methods of payment section of this site. Further detailed information is available in NAB's booklet - Finance of international trade. Your Supply Chain Finance specialist is also available to discuss the alternatives that best suit your particular business needs. Export Finance Insurance Corporation (EFIC) is the government authority that works with banks and exporters to support and promote Australian export trade. EFIC also have a range of risk management products that can be considered. There are also local trade insurers who can assist with your domestic trade needs.
How can NAB assist me with overseas market information?
We normally specialise in financial solutions and services and the government authorities such as Austrade and Department of Foreign Affairs and Trade are well equipped to assist with your market identification requirements. Local government and selected business chambers of commerce also have useful data bases of overseas companies and can provide introductions. Information may or may not attract a fee.
NAB can also help using both our National Australia Bank Group international network and extensive network of correspondent banking partners to obtain, commercial opinions and follow up payment, responses and transaction status in general. More information and discussion is available by talking to your Supply Chain Finance specialist.
Does NAB have any electronic services to help me to handle my trade transactions?
Yes, we have National Online Corporate - Trade service. Refer to the electronic services section of this site for more information or simply contact your NAB Business Banker to arrange a meeting with one of our Supply Chain Finance specialists to arrange for a demonstration and further discussion regarding your business needs.
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