Import Finance

Import Finance

The most exclusive service where importers eliminate their financing needs without disrupting their trade can be found at Kuveyt Türk!

Kuveyt Türk Import Financing service allows you to carry out seamless foreign trade processes.

What is Import Financing?

Import Financing is funding the costs of goods purchased from abroad.

Advantages of Import Financing

  • Thanks to Import Financing, importer companies can regularize their cash flows.
  • You can also benefit from financing with advantageous rates.

Types of Import Financing

Advance Payment

The importer company sends the cost of the goods to the exporter's account via bank transfer immediately after the contract is established - usually without waiting for the exporter to ship the goods.

Cash against Documents Payment

  1. This process starts once the exporter ships the goods to the customs in accordance with the agreement between the exporter and the importer.
  2. The documents representing the goods are first delivered to the remitting bank by the exporter.
  3. The remitting bank transmits the documents to the importer.
  4. The documents are delivered to the importer upon payment of the goods' price or acceptance of the policy issued by the exporter. Thus, the importer can collect the goods from customs.

Payment against goods

  1. In this payment method, firstly, the exporter sends the goods to the importer without collecting any amount for the cost of the goods.
  2. After the goods arrive in the country and customs clearance procedures are carried out, the importer sends the payment to the order of the exporter by bank transfer in accordance with the maturity date written in the contract.

Letter of Credit

It is the buyer's guarantee to the seller that the price of the goods will be paid through the bank to be determined in the buyer's own country in return for a certain price and maturity and the submission of documents per the specified requirements.

How can I apply for Import Financing?

You can apply through the nearest Kuveyt Türk branch.

Thanks to Kuveyt Türk, you can quickly access the financing solutions required for your import processes!

Frequently Asked Questions

What is the first condition for the funding of imports?

A power of attorney must be given to our clients before import financing.

Can import transactions be funded after the customs clearance is completed?

Except for the Cash Against Goods method, the financing must be carried out before the products are cleared from customs. The same rule applies to the power of attorney and price agreement in the case of Cash Against Goods transactions.

What is L/C payment?

L/C payment is the alternative name for the Letter of Credit method.

What is CIF?

It is the delivery method in which the cost of goods, insurance, and freight costs are undertaken by the seller.