How can we help you
loading...

Call us now!

+264 61 299 2222

Call me back!

Give us your details and we will call you.

Show More
Show Less

Useful Info

Our Advance Payment are allowed against a Proforma Invoice and favours the exporter, as the goods are only shipped (or in some cases manufactured) once payment has been received from the buyer (importer). The buyer therefore takes the risk that payment is made and product is not received.

Advance Payments

Our Advance Payment are allowed against a Proforma Invoice and favours the exporter, as the goods are only shipped (or in some cases manufactured) once payment has been received from the buyer (importer). The buyer therefore takes the risk that payment is made and product is not received.

Why FNB?

inContact

This innovative messaging system allows you to keep in touch with your account balances and transactions, helping you manage your money and prevent fraud on your account.

MoreMore Infromation

Online Banking

FNB Online Banking offers you Internet-based, electronic banking that's easy to use, quick, secure and available 24/7.

MoreMore Infromation

Cellphone Banking

Cellphone Banking enables you to conveniently perform a number of banking transactions via your cellphone.

MoreMore Infromation

eMail Statements

Have your statements sent to you via email, saving you paperwork and contributing to a greener environment.

MoreMore Infromation

More about: Advance Payments

Why do I need this?

  • The buyer pays the seller before the goods have been shipped, or in some cases before the goods have been manufactured
  • Payment can be effected by bank draft or electronic payment (SWIFT).

What else do I need to know?

This method of payment favours the exporter, as the goods are only shipped (or in some cases manufactured) once payment has been received from the buyer (importer).

What do I need to do?

If you are exporting:

  • On conclusion of the contact of sale, the buyer sends you advance payment
  • Your bank will receive an inward transfer in your favour
  • You will need to supply your bank with the appropriate settlement instructions, as well as conversion instructions if the transfer is in foreign currency
  • You ship the goods and forward the documents to the buyer

If you are importing:

  • The contract of sale is concluded
  • Contact our International Business Centre and request them to do a SWIFT transfer or issue you with a draft
  • You will need to supply the International Business Centre with details of the beneficiary (including banking details, amount and currency) and a copy of your invoice
  • On receipt of the goods and documents, you clear the goods

What are the risks?

  • The seller's country may impose laws that prevent the shipment from taking place
  • The seller may not ship the right quality and/or quantity of goods, or he/she may not ship at all
  • The buyer's country may not allow advance payments in respect of imported goods
  • The buyer's cash flow may not allow for payment to be made. It can cost the seller dearly as he/she may have incurred manufacturing and other costs on the understanding that an advance payment would be forthcoming

How can these risks be minimised?

  • Bank/Status reports can be obtained to ascertain the reliability and integrity of the seller
  • Country reports are useful in determining the stability of the seller's country
  • If the seller will be incurring costs to either manufacture or secure the goods from another supplier, reports should be obtained on the buyer and the buyer's country
  • The buyer may request the seller to issue an Advance Payment Guarantee covering any monies advanced to the seller, should the seller default

When should I use this method of settling my international trade transaction?

This method of payment favours the exporter as he/she only ships or manufactures the goods once payment has been received from the buyer. The buyer, therefore, runs the risk of paying for goods that may never arrive, or not be in accordance with the order.

I want it!

Give us a call on +264 61 299 2222.

Contact Details

Give us a call on +264 61 299 2222.

For queries pertaining to importers in particular, contact our International Business Centre:

Private Bag 13239

Tel: +264 61 299 2040

Fax: +264 61 299 2125

ibc@fnbnamibia.com.na