Discounting of bill under letters of credit issued by various banks of good market standing as per Banker's Almanac - for customers.
Purchase of bills for those customers where Limits are sanctioned.
Sending bills on collection basis for customers to various banks.
Types of Facilities for Exports
Negotiation of Bills under L/C
UCO Bank is active in negotiation/discounting of sight / usance international export bills under L/Cs opened by foreign banks as well as branches of Indian banks abroad. UCO offers the most competitive rates. These transactions are undertaken by our branches within the Bank/Country Exposure ceilings prescribed by UCO.
Export Bill Rediscounting:
UCO provides financing of export by way of discounting of export bills, as a post shipment finance to the exporters at competitive international rate of interest. This facility is available in four currencies i.e. US$, Pound Sterling, Euro and JPY.
Exporters can avail this facility from UCO to cover the bills drawn under L/C as well as other export bills.
UCO, on behalf of exporter constituents, issues guarantees in favour of beneficiaries abroad. The guarantees may be Performance and Financial. For Indian exporters, guarantees are issued in compliance to RBI guidelines.