The world's local bank
HSBC offers tools and services that reduce some of the financial risk associated with your export activities. Included here is information about export credit insurance, contract bonding and international guarantees, pre-shipment finance, confirmed letters of credits, and Trade Invoice Non-Recourse Financing Facility (TINRFF).
To discuss your international Trade and Supply Chain needs,
call us at 1-866-808-HSBC (4722)
or use our branch locator to find the HSBC branch in your neighbourhood.
You win international project overseas, we help to issue guarantees
Overseas buyers of certain goods and services often look for a written undertaking that the exporter will perform his contractual obligations. This typically involves requiring a bid or performance bond to be issued. Other types of bonds include advance payment, retention, and warranty bonds. Often these bonds are issued in the country where the contract is being performed, in which case the local bank will require an international guarantee from the exporter’s bank.
HSBC has considerable experience in issuing international guarantees and standby letters of credit around the world. With an extensive international network, we are often able to draw on the expertise of the HSBC Group in the buyer’s country in terms of issuing the bonds locally, helping to protect the exporter’s interests and ensuring that the bonds are issued quickly.
Export Development Canada (EDC) can further assist Canadian exporters by issuing a Performance Security Guarantee (PSG) in favor of HSBC giving the Bank protection against any calls or claims under the bonds/guarantees. With a Performance Security Insurance (PSI) Policy issued by EDC to the exporter, the exporter obtains 95% protection against wrongful calls.
Read more about the types of International Guarantees and Standby LCs.
