Trade Finance
As a business dealing with imports and exports, we will support your trade through import letters of credit, issuing guarantees as well as handling of import / export documents. Talk to us today!
Account Overview
As a business dealing with imports and exports, we will support your trade through import letters of credit, issuing guarantees as well as handling of import / export documents. Talk to us today!
What You Need to Open an Account
The requirements are as follows:
Individuals / sole proprietors / partnerships
National identity card / passport / KRA PIN
certificate of borrowers - original and copy
Certificate of registration (if proprietor or partnership)
Companies
Certificate of incorporation
Company KRA PIN
National identity card / passport / KRA PIN
certificate of the directors - original and copy
Certified copy of memorandum and articles of association
Certified copy of the resolution authorizing borrowing from DTB
Audited accounts for the last three years together with a copy of the latest management accounts
Copies of bank account statements for the last twelve months
Latest annual returns & filing receipt / CR-12
Write-ups, plans, and projections justifying need supported by business information
Additional documentation requirements
Bank guarantees
Format of bond / guarantee
Details of contract for performance bond
Details of tender application (bid bonds)
Counter guarantee
Letters of credit
Invoice (local LC) and import declaration form (foreign LC)
Marine cover
Note: * All charges are subject to applicable tax
Letters of Credit
Letters of credit are normally opened for customers who bank at DTB. These are facilities that are fully secured and the amount covered varies on a case by case basis depending on the nature and value of the tangible security held.
The features of this product are as follows:
Currency- KSH,USD,GBP,EUR
Import LCs
Issue:
Opening commission 0.50% per quarter
Minimum charge Kshs 3,000
Swift charges Kshs 4,000
Postage charges Kshs 500
Revenue stamp charge Kshs 100
Acceptance:
Acceptance commission 0.25% per quarter
Minimum charge Kshs 1,500
Swift charges Kshs 1,500
Postage charges Kshs 500
Settlement:
Settlement commission 0.25%
Minimum charge Kshs 3,000
Swift charges Kshs 1,500
Postage for sight LCs Kshs 500
Collections
DTB also acts as an agent for collection and all collections are routed through IBD for processing. The bank acts as an agent for our correspondent banks and receives bills from banks in other countries for presentation to a local drawee (import bills on collection).
The features of this product are as follows:
Import bills on collection
Handling fees 0.25% or a minimum charge of USD 10
Acceptance Swift charges Kshs 1,500
Settlement Swift charges Kshs 1,500
Export bills on collection
Courier charges Kshs 3,000
Negotiation charges 0.25% or minimum charge Kshs 2,000
Bank Guarantees
The bank issues letters of guarantee on behalf of customers and these facilities are subject to the same credit vetting and approval process as any other credit facility. Guarantees include all forms of guarantee commitments issued by the bank i.e. bid bonds, advance payment guarantees, performance guarantees among others.
The features of this product are as follows:
Currency- KSHS,USD,GBP,EUR
Issuing commission of 0.50% per quarter or minimum charge of Kshs 2,500
Cash covered guarantee of 0.25% per quarter or minimum Kshs 2,500
