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Foreign Trade Financing
BICSA has developed short and long term financial products and services, aimed at companies that carry out the production and exportation of goods and services, allowing them in that way to complete and to position their products in the markets of the region.
Documentary Credit
The Documentary Credit Service is a method of payment by means of which one can cover the purchase of good and services. In this type of service, the bank acts on behalf of the purchaser, guaranteeing the seller the payment of a sum of money in an established period in the commercial operation, against the reception of shipping or service documents, which comply with the terms and conditions established by the buyer.
Emission of Banking Guarantees
In BICSA we offer Banking Guarantees to assure compliance of an obligation by a third party, but only when the agreed upon conditions made at the moment of writing up the document are complied with. A banking guarantee for the most part is used with Government Institutions to warrant specific projects.
Collections
Clean or Documentary Collection
The Collection Service is a method of payment used by many exporters by means of the presentation of financial documents (bills of exchange, promissory notes, checks and other similar instruments) or commercial documents (invoices, shipping documents, title documents and other similar documents) in order for such documents to be paid or accepted by the issuer or importer.
Forex
As a complement to the traditional foreign trade service (trade finance) and with the aim of offering additional value to our clients’ commercial chain, BICSA incorporates into its portfolio of services the negotiation of the purchase and sale of foreign currency through its trading desk. FOREX. Through this service, our clients not only execute their foreign trade operations with the opening of a letter of credit or collection, but at the same time BICSA provides them with the necessary currency for payment or reimbursement. Likewise, BICSA offers a series of products in foreign currency, such as: purchase and sale of spot or term currencies (forward), management of current accounts, international transfers, receipt of remittances and term deposits.
