Where the foreign exporter of raw materials or finished goods is unwilling to offer credit terms, the local importer will be expected to settle the import bill immediately upon the shipping documents being received in good order.
Since by this time the raw materials will not have been converted into finished goods or the finished goods sold and cash collected, this facility provides short-term bridge finance between the time the import bill is settled and the time that cash is collected.

The raw materials and finished goods imported will usually be held in a bonded warehouse to the bank's order and will only be released when the bank transfers title to the local import by way of executing a trust receipt.
NIC Bank is your choice for this kind of financing.
Talk to our Corporate Banking Department on +254 20 2888000 or email
corporatebusiness@nic-bank.com