Contact Vol19 No2 June2019

Advertorial
Export-Import Bank
of Trinidad and Tobago
The Export Import Bank of Trinidad and Tobago Limited (EXIMBANK) remains the
only official Export Credit Agency (ECA) in the country. It has emerged out if what
was formerly the Trinidad and Tobago Export Credit Insurance Agency (EXCICO),
which was established in 1973 by the Government to promote the export of goods
and services. This allows regional buyers access to a wide range of manufactured
goods on credit terms.
EXIMBANK’s operations are funded principally by its own financial resources accumulated from profitable trading
operations over the years, and by various lines of credit provided by major financial institutions. EXIMBANK remains
a profitable, well managed, state owned financial institution working with local and regional financial institutions and
pursuing a business philosophy of promoting selective and controlled expansion of the export sector.
Products & Services
RAw MAtERIAl FINANcINg
This is a short-term loan/direct financing that the
EXIMBANK extends to an approved company to assist
in the payment of inventory, raw materials, semi-finished
or finished products. Once goods are received, the
exporter can now prepare products for local sale or
export. This facility is offered at competitive rates and
is designed for trade transactions that are short-term
and self-liquidated.
The tenor is customised to the exporter’s needs and
usually ranges from 30 to 270 days.
FActoRINg ANd dIscouNtINg
This facility provides short-term financing to exporting
manufacturers, distributors and service providers.
Businesses receive financing in the form of a loan
between 85 and 95 per cent of the invoice value of
export sales, which must be repaid from the assigned
proceeds of payments from EXIMBANK’s approved
buyers. This facility aims to bridge the gap between
the settlement of production costs and export sales
receipts, allowing a business to accelerate cash flow
and shorten operating cycles.
The tenor is designed to fit the relationship between
the exporter and their buyers. The credit period usually
ranges from 30 to 120 days Bill of Lading (B/L) or
Drawdown (DD).
AssEt FINANcINg
This facility can assist manufacturers seeking to perform
equipment upgrades to improve the quality of their
export products or for renovations of their premises.
The tenor is designed to the exporter’s needs and
usually ranges from one to seven years.
EXpoRt cREdIt INsuRANcE
This facility provides risk protection to exporters
against payment default by foreign buyers on goods
and services exported on credit terms. With this
protection, exporters have the confidence to venture
into emerging markets, thereby expanding their export
thrust. With the EXIMBANK credit insurance policy,
exporters can obtain protection against political and
commercial risks.
Premiums vary depending on the buyer’s creditworthiness,
payment terms, and the economic political
environment. Currently the premium rate ranges between
1.6 per cent and 3.5 per cent.
FoREX FAcIlIty
This facility was established by the Government of
Trinidad and Tobago in early 2018 to facilitate export
expansion. This facility is available to established and
existing manufacturers who are currently exporting or
have a confirmed export order. Start-ups or fledgling
manufacturers with confirmed orders will also be
favourably considered. Small to medium sized (SME)
companies with annual sales from TTD$50K but not
exceeding TTD$100M are eligible to apply. Flexibility
will be considered based on export percentage.
Exim House
#30 Queen’s Park West
P.O.S., Trinidad & Tobago, W.I.
Phone: (868) 628-2762
Fax: (868) 622-3545
Email: eximbank@eximbanktt.com
www.eximbanktt.com