Our international trade specialists understand the global market and offer a wide range of products/services to help you manage and build your international business.
Form M processing is the initiation stage of all importation processes in Nigeria and could be processed under the following conditions:
- Valid for Forex: when the customer intends that the Forex will be sourced by the bank from official window for a trade transaction.
- Not Valid for Forex: when the Forex funding for the trade transaction will not be sourced from official window.
The processing of PAAR using the shipping documents is to facilitate a hitch free clearance of your consignments. It is one of the most important, but not the only document required in the “clearing of goods” at the port, issued by Nigerian Customs Service covering the port of discharge of the consignment.
At Polaris Bank, we help to facilitate your international trade by issuing all forms of Letters of Credit to cater to your needs. Our correspondent relationship with major banks and financial institutions worldwide also ensures trades are done in a timely manner.
Our Bills for Collection service allows you to pay for imported goods upon when you are satisfied that all shipping documents are as stipulated in the underlying commercial contract.
Documents against Acceptance (D/A) and Documents against Payment (D/P) are forms of documentary collection.
Our team of experts provide advisory services on export business, export document processing, and information on developments in the local and international markets.
This team handles all transactions that do not involve the exchange of goods such as payments for local and foreign trainings, school fees, insurance premiums, subscriptions, medical bills, mortgage and aircraft maintenance etc.