Pre-Shipment Finance

(redirected from Preshipment Finance)

Pre-Shipment Finance

A short-term loan or other financing arrangement that an institution extends to a company to pay for inventory or other costs while it prepares its products for export.
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JMB acts as intermediary throughout the fraud--JMB provides funds in pound sterling ([pounds sterling]) (preshipment finance and based on letters of credit (LCs) and backed/guaranteed by Nigerian banks) in London on the basis of bills of lading and Nigeria's import inspection agency (Societe Generale du Surveillance) pre-shipment certificates); while JMB gets back its money and knows that some customers would pay over the top on loans and levy two per cent higher interest on loans linked with Nigeria - being fully aware that all documents are forged and manipulated.
e* Customised products also available - 1) for Exporters - Preshipment finance 2) Invoice Discounting for suppliers/contractors of Government Institutions 3 ) Back To Back LC