Secretary of Commerce Honors M&T Bank with President's "E" Award for Excellence in International Trade.
The M&T Bank's International Trade Finance Group has been selected to receive the prestigious President's "E" Award for Export Service. The award was presented to M&T in recognition of our long-standing support of export growth in the U.S. business community.
INTRODUCTION
In today's global marketplace, developing the right financial partnerships is critical to your success. At M&T Bank, we focus on helping our customers take advantage of global opportunities by facilitating trade and helping minimize risk exposure. Whether you're doing business across the border or around the world, M&T Bank's staff of experienced professionals offers the expertise you need and the personal attention you deserve. We pride ourselves in making a commitment to understanding what's important to your business.
BUSINESSES WE SERVE
US Exporters: Any U.S. company, including manufacturers, re-sellers and trading houses that are interested in exporting goods and services to international markets.
International Buyers: Any U.S. importer, including distributors, manufacturing facilities and systems integrators that are interested in importing goods and services from foreign countries.
WHY M&T?
M&T Bank has been awarded the President's "E" award for excellence in international trade. This award was given to M&T Bank by the U.S. Department of Commerce in recognition of our International Trade Finance Group and their continuous dedication to providing excellent service to the U.S. export community.
M&T Bank had more transactions approved through the Export-Import Bank of the United States in 2003 than any other bank in the world.
M&T Bank has a staff of 51 skilled professionals dedicated exclusively to the financing needs of U.S. exporters and their international customers.
All of our specialists average over 12 years of experience and have a proven track record of developing solutions that help our customers minimize risk and maximize liquidity.
We have correspondent relationships with more than 2,000 banks in nearly 3,000 locations worldwide.
M&T Bank is one of the largest Export-Import Bank guaranteed lenders in Sub-Saharan Africa.
PRODUCTS and SERVICES
M&T Bank's International Trade Finance Group has a wide variety of products and services to help both importers and exporters provide payment mechanisms for international sales and purchases, mitigate risk and finance working capital and foreign receivables.
Trade Finance
Financing is sometimes necessary to complete an international sale. We are experienced in supporting international sales through the use of export credit insurance and guarantee programs backed by the Export-Import Bank of the United States and the Small Business Administration. M&T Bank will assist you in selecting the right options to meet your company's needs, as well as those of your customers.
Financing International Buyers
M&T Bank's Export Finance Division provides direct financing to international buyers of U.S. exported capital equipment and services. Loans, which are either insured or guaranteed by the Export-Import Bank of the United States, generally have repayment terms ranging from three to seven years. This medium-term financing is U.S. Dollar-based, and is offered at extremely attractive interest rates to the international borrower. Read the case study: Financing International Buyers
Working Capital Financing for Exporters
M&T uses the programs of the Export-Import Bank of the U.S. and the Small Business Administration to make an aggressive valuation of an exporter's collateral. These programs make possible the extension of increased loan amounts and expanded credit criteria - helping meet exporters' working capital needs.
The benefits of working capital financing include:
Work in process financing
Letter of credit financing
Flexible financing
Fast service
M&T Bank has delegated authority up to $5 million per exporter
Export Credit Insurance
In the world of international trade, exporters are often asked to offer extended credit terms to international buyers - commonly 30 to 60 days after shipment. Due to issues such as political volatility in the importing country and the buyer's credit history, the exporter may be apprehensive to agree to such terms. Export credit insurance, available through the Export-Import Bank and private insurance companies, can help protect the exporter in these situations.
Export Credit Insurance allows you to:
Gain a competitive edge over your competition by providing attractive open credit terms to international buyers
Mitigate risk of non-payment
Access working capital by including foreign accounts receivable in a borrowing base
TRADE SERVICES: PROTECTING CUSTOMERS AGAINST NON-PAYMENT
Letters of Credit
Commercial letters of credit are widely used in international trade transactions to facilitate the buying and selling of goods. With an export letter of credit, exporters are provided with assurances that they will be paid by the buyer. This lowers the transaction risk for both parties. M&T Bank can also issue Import Commercial Letters of Credit that will allow you to:
Obtain goods and services from suppliers without cash
Negotiate with new suppliers offering more competitive prices or products
Receive better terms based on M&T Bank credit
Web-based Letter of Credit
M&T Bank also offers the convenience of a web-based letter of credit product for import letters of credit and export letters of credit.
Our import Internet letter of credit initiation and information reporting system allows importers to apply for letters of credit, send requests for amendments and view their letter of credit data online. Our system also allows exporters to receive their letters of credit and amendments online.
Standby Letters of Credit
These letter of credit instruments are frequently required for bid bonds, performance bonds and cash payments as a means to ensure that contractual agreements between exporters and importers are carried out in an orderly manner.
Documentary Collections
When letter of credit or open account terms are not a fitting method of payment, using M&T Bank for documentary collections may be a viable alternative. For imports, we receive the original shipping documents and payment request from the supplier. We then transfer payment to the supplier's bank allowing our customer to delay payment until the receipt of goods. For exports, we forward original shipping documents to the buyer's bank giving our customers control of the goods until their customer pays.
Correspondent Bank Network
To better service our clientele, M&T Bank provides international trade services to downstream correspondent banks without international departments. M&T Bank retains an international network of 3,000+ correspondent banks worldwide to facilitate foreign payments and the processing of international banking services.
Foreign Exchange
M&T Bank has a team of professional Foreign Exchange traders able to convert U.S. Dollars to/from international currencies thru their Foreign Exchange platforms. We can accommodate:
Spot market transactions
Forward market transactions
Foreign Deposited Checks
For customers who receive payments in the form checks drawn on foreign banks, we offer our Foreign Deposited Check service. We can convert many foreign currencies to US dollars - helping facilitate prompt payment to your company.
CONTACTS
Call our International Trade Finance Group at (410) 244-4500 or email us at International@mtb.com.
Working Capital Guarantees and Insurance
Gerald Solomon gsolomon@mtb.com
(410) 244-4821
International Buyer Financing
Clem Miller cmiller4@mtb.com
(410) 244-4521
International Correspondent Banking
Susan Raymond sraymond@mtb.com
(410) 244-4037
International Collections
Rosa Spann rspann@mtb.com
(410) 244-4562
Letter Of Credit Department - Baltimore Office
Phyllis Malekiani pmalekiani@mtb.com
(410) 244-4475
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