What is Ores and Minerals Finance?
Ores and Minerals Finance
When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 30-180 days later.
What is the SIC Code for Ores and Minerals Finance ?
The SIC Code is 46720 (Wholesale of metals and metal ores)
Other SIC Codes that could also be used are:
The move to free market pricing has increased volatility and competition. This move away from fixed-price contracts has meant that the need to secure more clients and thus increase volume is key. The client wanted financing in order to fund expansion and worked with a trade finance facility in order to do so. Access to funding has allowed the company to grow and reach new clients.
- No security or personal guarantee required
- Ores and Minerals finance available even if the banks refuse finance
- Our partners find you solutions to increase trade
- Fast turnaround – get ores and minerals finance in 24 hours
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