Creating, extending and repaying a Trade Finance loan

Creating and managing your Trade Finance loan

The following steps are designed to help with the creation and management of your Trade Finance loan requests.

Select the type of request you need help with.

• Creating a new Trade Finance loan request
• Requesting a Trade Finance loan extension
• Repaying a Trade Finance loan

How to create a new Trade Finance loan request

Ensure you’re logged into NAB Connect to get started.

1. From the Products menu, select ‘Trade Finance’ to open Trade Finance Online (TFO).
2. From the Trade Services menu in TFO, select ‘Financing Request’ then select ‘Initiate Financing Request’.
3. Complete the General Details section for your Financing Instructions, then select Next.
   • ‘Customer Reference’ will help identify the transaction in your report.
   • Select the type of financing for your transaction:
     • ‘Trade Loan’ – for your Domestic Trade Loan transaction.
     • ‘Import Finance’ – for your Cross Border transactions to purchase goods from overseas.
     • ‘Export Finance’ – for your Cross Border transactions in relation to Overseas Bills Purchased.
     • ‘Import Lease’ – for your transaction linked up to Equipment Finance.
     Note: Please do not select ‘Borrowing Base’, ‘Receivables Purchased’ or ‘Goods Purchased’ unless guided by your Trade and Working Capital Specialist.
   • ‘Requested Financing Date’ is the date you wish to start the financing, i.e. today or a future date. Transactions submitted after the cut-off time will be processed the following business day.
     Note: Learn more about NAB Connect payment information and cut-off times for additional guidance on cut-off times.
   • ‘Tenor (Days)’ is the number of days within the pre-agreed Maximum Trade Finance Period.Maturity Date – the date you need to repay the Financing amount and associated fees to NAB. This will auto-populate if Tenor (Days) is entered.
   • ‘Maturity Date’ is the date you need to repay the Financing amount and associated fees to NAB. This will auto-populate if Tenor (Days) is entered.
   • ‘Loan Purpose/Description of Goods’ is the description of goods indicated on the Invoice.
4. Complete the Applicant and Financing Bank Details section, then select Next.
   • Applicant details will be pre-populated as per TFO Profile set up.
   • Issuer’s Reference: select ‘Your customer number - Sydney’ regardless of the location of your business.
     Note: Do not select Adelaide, Brisbane, Melbourne or Perth, this will result in the transaction being incorrectly allocated for processing.
5. Complete the Amount Details section, then select Next.
   • ‘Financing Amount’ is the currency and amount you wish to finance.
     Note: ‘Financing Currency’ and underlying supporting ‘Invoice Currency’ can be different.
   • ‘Additional Details’ regarding any relevant guidance for the finance currency and amount. For example, provide the FX conversion instruction (i.e. FX Contract number or to apply spot rate). Otherwise, provide the proof of payment in Financing Currency.
6. Complete the Instructions to Bank section, then select Next.
   • ‘Principal Account’ is the account where the loan principal will be paid to and where loan debits will be drawn from.
     Note: In case Standard Settlement Instructions (SSI)’ already has been executed with us, we will process as per SSI.
   • ‘Fee Account’ is the account where fees and charges related to the loan will be debited from.
7. Add the attachments in the Attachments section, then select Next.
   • All attachments must be included at the time of submission.
   • Required supporting documents:
     • the invoice that clearly states:
       • your business name and address;
       • your counterparty’s name and address (i.e. your supplier or buyer);
       • a detailed description of goods and/or services being bought/sold;
       • the value and agreed payment terms; and
       • the port of loading and port of discharge (if applicable).
     • a copy of the relevant shipping documents (Ocean Bill of Lading or Air Waybill) (if applicable).
   • All documents must be presented in English.
8. A preview will display to enable you to review all the inputs. Once you have reviewed all the inputs, select Submit.
9. A Success screen will appear once submitted. The transaction status will show as ‘Pending Bank Approval’, or ‘Pending at Approval’, which is to be reviewed by another Authoriser as per your TFO Profile set up.
10. Refer to additional information

How to extend a Trade Finance loan

Make sure you’re logged into NAB Connect to get started.

1. From the Products menu, select ‘Trade Finance’ to open Trade Finance Online (TFO).
2. From the Trade Services menu in TFO, select ‘Financing Request’, then under the ‘Live’ tab, identify the transaction you wish to extend (herein referred to as a ‘rollover’).
3. Move your mouse under the Actions column next to the transaction, where available options will appear as ‘Details’, ‘Repay’, ‘Correspondence’ or ‘View’.
4. Select ‘Correspondence’.
5. In the General section, enter your rollover instructions under ‘Customer Instructions’. For example, “Please rollover for additional 30 days (until dd/mm/yyyy).” Once completed, select Next.
6. Upload any attachments where relevant to your rollover request and select Next.
7. A preview will display to enable you to review all the inputs. Once you have reviewed all the inputs, select Submit.
8. A Success screen will appear once submitted. The transaction status will show as ‘Pending Bank Approval’, or ‘Pending at Approval’, which is to be reviewed by another Authoriser as per your TFO Profile set up.
9. Refer to additional information

How to repay a Trade Finance loan

Repayment options include full repayment, early repayment and partial payment.

Ensure you’re logged into NAB Connect to get started.

1. From the Products menu, select ‘Trade Finance’ to open Trade Finance Online (TFO).
2. From the Trade Services menu in TFO, select ‘Financing Request’, then under the ‘Live’ tab on the Financing Request page, identify the transaction you wish to repay.
3. Move your mouse under the ‘Actions’ column next to the transaction, where available options will appear as ‘Details’, ‘Repay’, ‘Correspondence’ or ‘View’.
4. Select ‘Repay’.
5. In the General section of the Repayment Draft, select either ‘Full and Final Payment’ or ‘Partial Payment’ based on the repayment type you wish to make.
6. Select ‘Settlement Mode’ and provide ‘Principal Account’ and ‘Fee Account’ details.
7. Under ‘Free Format Message’, enter clear repayment instructions in the ‘Customer Instructions’ field. Where applicable, ensure to include FX conversion instructions (i.e. FX Contract number or to apply spot rate).
   Note: Clear repayment instructions are required to prevent delay or errors in repayment processing.
   
   Examples of these instructions include:
   • Please repay in full on dd/mm/yyyy.”
   • “Please process partial payment of currency & amount on dd/mm/yyyy.”
   • “Please settle this transaction with FX conversion (i.e. FX Contract number or to apply spot rate).”
   • “Auto-payment instruction already in place.” – only applicable where an auto-payment instruction is in place.
   Once mandatory fields are completed, select Next.
8. Upload any attachments where relevant to your repayment request and select Next.
9. A preview will display to enable you to review all the inputs. Once you have reviewed all the inputs, select Submit.
10. A Success screen will appear once submitted. The transaction status will show as ‘Pending Bank Approval’, or ‘Pending at Approval’, which is to be reviewed by another Authoriser as per your TFO Profile set up.

Additional information

• File size – up to 10 attachments of 10MB each file can be uploaded. Please ensure none of your documents are password protected.
• File name – no more than 35 characters including file extension. Only alphabetic characters, numeric characters, full stops, colons, spaces, hyphens, and underscores are accepted. Special characters such as # & " ( ) ?/ \\ + ; are not accepted.
• Supported file types – PDF, PNG, JPEG, JPG, CSV, XLS, XLSX, DOC, DOCX, TXT, GIF, XML formats only.