Each of the above services need a deep understanding of your business to match your needs with the solution most suited for your business requirement. Our smart trade finance advisory services facilitate commerce & trade, eliminate unwanted processes for exporters and importers to simplify business transactions.

How do we add value to you to your Working Capital & Trade Finance needs:

Our inhouse built models and innovative channels for bringing you the right solution ensure arrangement of financial support from banks and other financial institutions to enhance cash flow or working capital and encouraging a smooth operation of the business activities of your company.

Our prime aim is to relieve you from cash crunch or blocked money by:

• Monetizing your locked working capital in unsold inventories.
• Extend credit period for procurement.
• En-cash your receivables.

Equipped with skilled professionals we work with a pro-business attitude and negotiate pre-agreed terms in contracts that help businesses provide a better competitive price range and conditions to the customers and suppliers by ensuring in-time guarantee payment to suppliers, thus preventing cash shortages or liquidity gaps by the means of offering options of overdraft, terms loan, customer invoice discounting.

To ensure quick turnaround time matched with economical pricing and tailor-made solutions, contact us. We are committed to offer you solutions that fit in your requirements and promise competence from Being a client-centric based company, Odyssey International assists you in achieving your business objectives, enabling you to purchase inventories at discount, increase commercial benefits, volume discounts and grow overall profitability our global network.

Unfunded facilities

Letters of Credit

Letter of credit is an indispensable payment instrument that is used in international business that facilitates banks in offering monetary guarantees to enterprises dealing in the export and import business domain. Odyssey international commercial brokers is a dominant player in the field of financial services that provides a comprehensive assistance in trade deals by offering letter of credit and easing out the necessities for the smooth functioning of the import-export business. The enterprises engaged in cross-border businesses, require payment assurance before undertaking any transaction with suppliers, and here the letter of credit plays an important role in offering assurance of payment to the suppliers.

How does a Letter of Credit (LC) Works?

Seller protection

If a consumer defaults on paying, the bank declared letter of credit testify that the seller should be paid before it meets all the needs in the Letter. It protection is significantly helpful when buyers and sellers are based in different countries.

Buyer protection

Letter of credit also secure clients. If you pay seeking goods or service, but the seller refuses to deliver the product or service, then you use a letter of credit to recover the cost against the party that was inadequate to display its activity or may be a refund.

Documents required for Letter of Credit

In case of Letter of credit, banks deal only in documents. The decision to make payment under a letter of credit is depended solely on documents presented to the bank according to the terms and conditions of the letter of credit.

• Transport document covering two or more modes of transport (multimedia or combined
  transport document)
• Bill of Lading
• Non-Negotiable Sea Waybill
• Charter Party Bill of Lading
• Insurance Certificate
• Bill of Exchange
• Commercial Invoice
• Certificate of Origin
• Health Certificate
• Consular Invoice, Legalized Invoice

Odyssey international commercial brokers providers Letter of Credit in Dubai and assists companies in preparing all necessary documents, making the entire process smooth and hassle free.

Standby Letter of Credit

A standby letter of credit assures guarantees against payment by the customer to a third party who defaulted on an approval. This legal document designates the responsibilities and duties of every party and assists as an act of good trust. The issuing bank performs underwritten tasks to ensure the client’s financial credibility in the form of a letter of credit. The prime motive is that in case you fail to comply with your juridical duties, then a third-party will honour the payment upon receipt of a claim complying with the guarantee conditions for the beneficiaries of the
trade. If you are desirous to find a reliable and unfeigned provider to purchase or lease a standby letter of credit or process a bank guarantee, then Odyssey International is the one-stop solution for you. We are a widely known company engaged in financial services including the issuance and also documentation of standby letter of credit with utmost efficiency and accuracy. Our dedicated team comprising of the creamy layer of financial experts in the UAE, is committed to assist our clients with a banker’s guarantee or standby letter of credit.

Types of Standby Letter of Credit:

A financial standby letter of credit

On the basis of the financial standby letter of credit, guarantees of the payment for services and goods, as set out in the agreement, are offered. It is in the form of credit thus the bank collects interest along with the principal from the buyer.

A commercial standby letter of credit

On the basis of the commercial standby letter of credit, guarantees are offered for the completion of an obligation / project within a stipulated time period. If the bank customer defaults on completion of the aforesaid project in the time period mentioned in the contract, then the bank promises to pay a specific amount on the contract to the third party which may comprise of compensation for the inconvenience caused to the client or to pay the costs required to engage a party to handle the mentioned project.

Process for obtaining a standby letter of credit

• The bank of the buyer is approached for a letter of credit in support of the seller.
• Bank is required to approve the buyer’s credit risk, results and on that basis, it forwards the credit to another panelled bank within the region of the seller.
• Advising bank certifies the credit and delivers the original credit to the seller.
• Transportation of goods is carried out within the specific time.
• The seller produces the necessary documents before the bank upon which the bank
  scrutinises the documents of agreement in accordance to the term and requirements of the letter of credit.
• After verification, the money will be claimed upon confirmation from the bank.
• Reimbursement on another bank if required for the credit.
• The bank delivers documents to the issuing bank and after re-verification of the
  documents, the issuing bank will debit the buyer’s account.
• The issuing bank releases the original documents to the buyer.

Bonds & Guarantee

Every business is connected to a certain level of risk in some or the other way. That’s why trade partners rely upon bank guarantees to ensure the security of negotiated transactions. If you are seeking for a bank guarantee provider in Dubai, then we at odyssey international commercial brokers are here to assure you a marvelous experience. With our client-centric team of professionals getting a bank guarantee is cheaper which comprises of a fixed fee, typically a transaction amount percentage as per the bank norms. The advantageous part associated with the odyssey international is that we are committed to reduce the potential risk of amount transactions and ensure complete discharge of the obligations as stipulated in the contract.

Documents Required for Bank Guarantee

• Valid passport or national ID with UAE residence visa and Emirates ID of all signing
  authorities and shareholders. (If applicable)
• Valid legal documents such as trade license, free zone certificate of incorporation,
  certificate of commercial registration, partnership agreement, etc.
• Power of attorney, (if applicable)
• Address proof
• Information of the ultimate beneficial owner
• Company profile and bank reference, (if applicable)
• Audited financial statements

Odyssey international commercial brokers is a reputed bank guarantee provider in Dubai. Our business finance system comprises of consecutive meeting with clients with high responsiveness. Thus making the entire process transparent covering every crucial and minute detail. We provide a list of potential guarantee providing banks and on the basis of the client’s preferences and approval we instruct our partner bank to issue a letter of bank guarantee to the bank of the seller in the minimal possible time period.

Structured facilities (Back to Back Services)

For this Odyssey has partnered several organizations leading to plethora of success stories. Being a customer-centric organization, Odyssey International maintains a close relationship with its associates and takes care of timely transactions with transparent and non-ambiguous terms and conditions.

Procedure of Factoring followed by Odyssey International Commercial Brokers

• Buyer and Seller sign Special Power of Attorney (SPA)
• Buyer and Seller submit on boarding documents to Odyssey International
• Odyssey International scrutinizes documents and submits the documents to the Factor.
• Odyssey International notifies the seller upon successful on-boarding
• Seller settles the invoice for processing fees and proceeds to sign the factoring
  agreement to initiate the factoring cycle.

Factoring

Factoring is a solution that facilitates smooth functioning of your business against financial hindrances. It offers an opportunity to obtain immediate capital on the basis of expected cash inflow preventing obstructions in the business caused due to cash flow shortage when it has carried out excess transactions through credit terms and there is a delay in payment of the receivables. A factor is a finance provider who pays for the receivables of the seller company ahead of the credit term maturity acting as the purchaser, and the original buyer pays the receivables to it instead of the seller during the maturity period of the allowed credit term. Thus a company can secure assistance from a factor to meet its own dues and payables.

Odyssey International Commercial Brokers is an established company that been providing financial services to a wide range of companies from start-ups to top-notched ones. It owns a specialised department for factoring with the elite professionals of UAE who help you find the most suited factor. It has been a pioneer in arranging factors.