Products and Services
Giving you the best is what we are all about, set up to do and above all, all-out
to do. That is the reason why we have packaged some world class products and
servcies for you as an individual or your organisation, as a corporate body. All
our products and services are designed to meet your needs, whatever they may be.
They range from Financial Advisory Services to SMEEIS Funds Management, just to
mention a few of them. These are being delivered by professionals with a
professional touch. Listed below are the Products and Services we have to offer
you.
LPO/Contract Financing
Contract Financing is used to pay suppliers, laborers, or other intermediaries
for goods or services, or to generate additional sales. The collateral, or a
'guarantee' is a contract already signed with a client for a job to be done or
already in progress. Given the strenght of the collateral, the Financial
Institution will accept to fund the contractor of the project. Once the
contractor finishes the job and is paid by its client, it repays the loan. In
some instances, the contract payment is assigned to the Financial Institution,
in which case the Financial Institution will get paid directly. Intercontinental
Finance and Investment Limited makes loan available to contractors for the
supply of materials or the execution of contracts such as from blue chip
companies. This type of Financing will enable companies to take advantage of
sales growth opportunities that are larger than they can finance internally. To
be considered, the LPO/Contract order must be self-liquidating upon execution.
Invoice Discounting
Invoice Discounting is a form of short-term borrowing often used to improve a
company's working capital or cash flow position. It allows a business to draw
money against its sales invoices before the customer has actually paid. To do
this, the company borrows a percentage of the value of its sales ledger from a
finance company, effectively using the unpaid sales invoices as a collateral for
the borrowing. Where recievables are expected from executed jobs,
Intercontinental Finance and Investmet Limited advances up to 70% of the
expected proceeds (upon confirmation) to the borrower to enable him continue
with other supply contracts/jobs. This eliminates a waiting time syndrome that
affects the smooth flow of business. Also, by receiving cash as soon as Invoice
is raised, the business will find that its cash flow and working capital
position is improved. Furthermore, interest to be paid is only on the fund
borrowed, in a similar way to an overdraft, which makes it more flexible.
Warehousing
To ease the collateral requirement constraints for importers, Intercontinental Finance and Investment Limited has a warehousing arrangement for all Import Finance Facilities (IFF), whereby the goods are imported and kept (warehoused) in a designated warehouse and released peicemeal to the borrower as payments are made or in whole if full payment is made.
Trade Finance
Trade Finance involves financing trading transactions. In this financing
agreement, the Financial Institution of a purchaser provides for paying for
goods supplied on behalf of the purchaser. While a seller can require the
purchaser to prepay for goods supplied, the purchaser may wish to reduce risk by
requiring the seller to document the goods that have been supplied. Financial
Institutions may assist by providing various forms of support. For example,
purchaser's Financial Institution may provide a letter of credit (LC) to the
seller providing for payment upon presentation of certain documents,, such as
bill of laden in case of an import. Intercontinental Finance & Investment
Limited offer customers involved in various large Trading, Manufacturing and
service-oriented business activities quick access to credit facilities to ensure
business continuity and growth.
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