Trade finance instruments are modern solutions ensuring safe performance of transactions with domestic and foreign counterparties and financing of contracts made. Depending on the transaction, relationship with the counterparty, and the collateral type, we provide our clients with an offer tailored to their needs and expectations. Our Bank is among the leading bank guarantee issuers. As at 2017 yearend, the bank guarantee-related exposure amount went up by over 24% versus 2016.
We constantly improve our trade finance products – we are the first to have introduced the e-guarantee on the Polish market. We also keep on augmenting our offer of letters of credit that are still recognised by our clients, as well as the documentary collection and receivables purchase offers.
With an e-guarantee available in the ING Business online banking system directly upon its issue, our clients may receive and provide to their business partner the security for the contract very quickly.
In December 2017, we launched our application for verifying qualified signatures on e-guarantees. Our clients and beneficiaries no longer need to install additional applications on their computers but directly on ING Bank Śląski S.A. website they can quickly and safely verify the document issued by the Bank and confirm the signatures placed thereon. In January 2018, we also introduced the English version of this application which will greatly facilitate international cooperation for our clients.
In October 2018 it will become compulsory to hold tenders under the Public Procurement Law electronically therefore e-guarantee will become the most convenient guarantee form. In 2017, we issued 127 e-guarantees and their number is systematically growing. E-guarantees were officially approved by the General Directorate for National Roads and Highways.