1. Letters of Credit

• Import Letters Of Credit
  This is required to facilitate the Importation of Goods/Services from one Country to another. The Letter of Credit is the arrangement between the BUYER and SELLER.
  Sellers normally requests for a Letter of Credit when they do not know the Buyer (or are unsure about them)
  Opening of a Letter of Credit involves Seller, Buyer, Seller's Bankers and Buyer's Bankers
  To open a Letter of Credit, the documents required are (Application and agreement for confirmed letter of credit, Import Declaration Form (IDF), proforma invoice and insurance cover for 110% of invoice value)
  Letters of Credit could be payable either on SIGHT or USANCE
• Export Letters Of Credit
  Export Letters of Credit are similar to the Import Letters of Credit with the only difference being that one is for export of Goods/Services from one Country to another while the other is for import of Goods/Services

2. Spots and non spot transfers

• Spot Purchases & Sales
  Where settlement of the transaction takes place
  after two working day
• Non Spot Sales
  Where settlement of the transaction takes place
  either "SAME DAY VALUE" or "NEXT DAY
  VALUE"

3. Forwards

• Forward transactions are beneficial to Clients who would want to "HEDGE" themselves against market rate risk (unwarranted rate movements)
  
• Unlike Spot Transactions which have a 2-working date value, Forward transactions can have a tenure of 7 days to 12 months
  
• The physical settlement happens on maturity of the Forward Contract

4. Telegraphic transfers

• Services available for the following currencies: USD,GBP,EURO,CHF,INR,CAD AND ZAR
  
• Charges are KES 1,500.00 for the above outgoing spot transfers
  
• Non Spot TT charges vary. Please contact Treasury for Non Spot charges
  " Correspondent Bank deductions (outgoing telegraphic transfers): Equivalent USD 25.00
  
• Inward Telegraphic Transfer Charges: 5 units of respective currency

5. Foreign demand drafts

• Services available for the following currencies: USD,GBP,EURO,CHF,INR,CAD AND ZAR
  
• In addition the above FCY Cheques we issue LOCAL FCY Cheques in the following currencies: USD, GBP and Euro.
  
• ICICI INR DD's can be made payable at approximately 240 branches in India

6. Foreign currency accounts

• We open FCY CURRENT accounts for clients in the following currencies: USD, GBP, EURO.
  
• Local FCY cheque books are issued for the same

7. Wall street - Cash in Dubai

• This product allows customers to receive cash USD or AED in DUBAI ONLY at designated Wall Street Exchange Bureaus
  
• Charges are KES 1500.00 per transfer and deductions at receiving point are USD 20.00 or equivalent

8. World Link - multicurrency payments

• World Link Multicurrency allows Imperial Bank to offer approximately 170 currencies (telegraphic transfers and demand drafts only) without having to open Nostro accounts for the same
  
• Charges are KES 1500.00 for telegraphic transfers and KES 500.00 demand drafts

9. RTGS

• This stands for Real Time Gross Settlement
  
• These are same-day transfers in KES to the beneficiary bank
  
• Charges KES 2000.00 per transaction
  
• Cut Off Time to inform treasury for the transaction - 10.00 am

10. Fixed deposits

• Fixed Deposits offered for USD,GBP and EUR
  
• Attractive interest rates
  
• 1 month to 3 month deposit options