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Technical Collateral

In 1994 when the liberalization of rice by the state he had raised the issue of financing for private importers. It was at that time that was necessary to use the technique of Collateral.

The third allowed detention therefore suppliers and bankers to finance the supply of rice on behalf of the importer without having to raise a letter of credit and all the necessary financial resources to the importation of rice.

Thus on the basis of a contract to purchase rice, often with a deposit of between 5 and 10%, the importer could import to the desired amount and the supplier or the bank financing secured by placing the cargo into the hands of third holder who is often either a handling company which offered the advantage of providing complete control of the operation from the board stored up in stores Collateral while the SA offered that surveillance in stores belonging often the handler or importer.

Thus the Collateral is a financing technique triangular linking is the importer - the Bank and the third holder or the importer - the supplier and the third media owner as having the sales contract and the contract of Collateral.

And unloaded the merchandise is kept in warehouses handler that releases the goods according to the instructions of the Bank or the supplier.

In the handler will return the merchandise in its stores against theft, water damage, fire and insurance will make a delegation on behalf of the applicant (the Bank or the supplier)

Third holder benefits are paid by the customer importer.

Finally, for statistics on 800,000 tons of imported rice in Senegal in 2008 were 80% funded on the basis of the Collateral, the rest in direct purchase.

Among the advantages of the Collateral is to be cheaper and less restrictive than the letter of credit.

- The Collateral allows the importer to evolve in its imports according to its possibilities.

- Have the stock off and dispose of paying according to market needs.

Collateral today is exerted on many products imported to Senegal including: rice, iron, concrete, steel products, cement, corn etc. ...

MLT SA now enjoys the confidence of several large European banks in this area including Crédit Agricole (Geneva), Credit Suisse (Geneva), France's Societe Generale (Paris), the Bank Cantonnale Vaudoise (BCV Geneva). ..

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