Procedures of obtaining trade guarantees
- Client (importer/buyer) submits proforma invoice (PI) or contracts to UTB.
- UTB prepares and sends required draft for approval to the client who in tern sends the draft to the beneficiary for final approval.
- Once approved, client sends UTB beneficiary signed and stamped draft.
- UTB signs all relevant contractual documents (including indemnity) with the client.
- Client pays agreed fees.
- Upon receipt of fees, UTB issues/swift transmits the guarantee within 24 to 72 banking hours.