CORPRATE OVERVEIW  
                           
     
   
Today's Currency Rates
 
 
  • NEWS & EVENTS
  
RAHIM Bank Offshore is proud to announce that effective January 01, 2009, the name of the bank has been changed to RAHIM International Bank.
  • Liquid Management Services
  • Financing - Short term and Long term
  • Over draft
  • Secured Loan facilities
  • Lending

BANK GUARANTEES

Royal Allied High Investment Bank, often known as RAHIM International Bank, is often asked to provide guarantees or bonds on behalf of their customers, who may be importers or exporters, or possibly contractors who have to give some form of undertaking to their counterparties. The Guarantee is a written undertaking from a bank that if a customer does not honor an obligation to perform a particular function or service, the bank will pay over a sum of money on behalf of that customer to a named party.

Bank Guarantees or Bonds can be Conditional or Unconditional. When a guarantee is conditional, that any one who wishes to claim under that guarantee must fulfil certain before the guarantor is prepared to pay the appropriate sum to the beneficiary. When a guarantee is a simple demand guarantee, this means that the beneficiary named in the document is able to claim the benefit stated in the guarantee by simple demand.

How does it work?

The applicant fills an application form for issuance of a bank guarantee in which he specifies the name of the beneficiary, tenor, amount, expiry date and purpose of guarantee. The most commonly used guarantees are: Bid / Advance payment / Performance bonds / Customs guarantee and Payment guarantees.

Benefits:

  • Access to RAHIM International Bank's network
  • Experienced and professional trade processing service
  • Competitive Issuing fees.

LETTERS OF CREDIT

Letters of Credit are as old as banking itself. They are based upon the fact that the creditworthiness of an unknown Buyer is thus replaced by the creditworthiness of a known Bank. RAHIM International Bank., often has to stand in the shoes of its customers and give some form of undertaking that payment will be made provided certain conditions are complied with. This mechanism is called as Letter of Credit or Documentary Credit. Although there are various types of Letters of Credit, people are most likely to be familiar with the terms Import or Export Letter of Credit. These terms are used when RAHIM International Bankis acting for an importing or exporting customer.


How does it Work

When a Buyer applies for an Import Letter of Credit it specifies the Exporter, the amount, the Currency, the maturity date, the nature of goods, as well as any other payment terms. The Exporter in his country is then advised that a Letter of Credit has been opened in his favor, therefore he is the beneficiary of an Export Letter of Credit. Therein, the Exporter ships the goods to the Importer and presents all the required documents to the bank. The bank checks the documents for complying with the Letter of Credit and makes payments to the Exporter. At the end, the bank claims settlement from the Importer.

Benefits

  • Access to a Global Trade Network
  • Experienced and Professional Trade processing service
  • Availability of financing against Assignment of Export Letters of Credit.

  RAHIM International Bank
All Rights Reserved