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INTERNATIONAL

With the world's changing economy, many companies have discovered more opportunities to expand their business into international markets. Bank of Oklahoma's International Banking team understands the vital role a bank must play in the international trade process. Whether your company is entering the international arena for the first time, expanding into new markets, or looking for a new service provider to fulfill your current needs, we are prepared to help you navigate successfully through the process.

Whether your company is buying, selling or making investments abroad, we help you understand and manage your foreign exchange and business risk. Proactive foreign exchange management helps a company maintain its competitive edge by establishing a plan for buying and selling in particular currencies while actively managing foreign currency exposure. Bank of Oklahoma's team of experts in the Foreign Exchange and Advisory Services Group will help your company lay out and execute a foreign currency exposure plan and hedging strategy designed to maximize opportunity and minimize risk.

Spot Transactions and Basic Services

Spot foreign exchange transactions are useful for purchasing currencies that need to be sent to foreign countries or for converting foreign currency payments into US dollars. Our investment in state-of-the-art technology enables our experts to constantly monitor exchange rates and stay abreast of issues that will impact the global markets. Our Foreign Exchange Group processes high volumes of foreign exchange transactions on a daily basis and maintains a network of correspondent bank relationships, providing access to over 3,000 foreign banks around the world. You can be assured that our access to current global information combined with our relationship focus means that your company will benefit from personalized foreign exchange solutions and competitive pricing.

Forward Contracts

Staying current with foreign exchange rate fluctuations in an ever-changing and volatile foreign exchange market can frustrate even the savviest businessperson. International politics and events that influence global markets can also compound the stress of doing business internationally. Implementing a forward contract is one tactic to help hedge against currency fluctuations by locking in an exchange rate and determining the future delivery date of goods. Forward contracts are available in almost every currency and our expert traders can work with you to set up the appropriate type of forward contract to meet your business needs.

Financial Risk Management and Advisory Services

We offer foreign exchange hedging, trading and exposure management solutions for your company’s treasury or risk management groups.

Options Strategies

An option is another tool to hedge foreign exchange rate fluctuations. An option will allow a company to take advantage of a favorable exchange rate movement while protecting it against an unfavorable movement. Our foreign exchange traders can help tailor an option strategy that best suits your needs.

Foreign Currency Wires

Sending a wire in a foreign currency can help accommodate foreign partners more efficiently, thus enabling you to compete more effectively in foreign markets by transacting in the local currencies. Bank of Oklahoma' Foreign Exchange Group transacts in over 100 foreign currencies.

FX Advance®

FX Advance® is an efficient, secure and easy-to-use web-based Foreign Exchange trading system designed to help companies with international transactions and exposure effectively manage their foreign exchange activity. With FX Advance®, you will have the ability to monitor currency markets, obtain Bank of Oklahoma's competitive pricing and execute transactions efficiently anywhere in the world with the industry's highest level of security. FX Advance® is an intuitive system that puts the power of an FX desk at your fingertips, enabling you to make informed and sophisticated decisions to benefit your company and manage your international business confidently and proactively.

To view a demo of the FX Advance® web portal, please click here.

More Information

For more information please call:
Tulsa Area:  (918) 588-8655
OKC Area: (405) 272-2496

As your company pursues business activities with familiar trade partners, you will need a banker to help you strategize on risk mitigation tactics and sales growth opportunities. Bank of Oklahoma has the experience and expertise to help you make the right financial decisions every step of the way.

Export Letters of Credit

Bank of Oklahoma will help accelerate the processing of required documents and facilitate the collection of payments from the foreign bank. It is our goal to reduce the complexities of your export document transaction, review the terms and conditions of the L/C, and expedite the collection of payment for you. We can also confirm your letters of credit, which eliminates the foreign bank and country risk associated with the transaction. Our letter of credit specialists will also help ensure your presentation is in compliance with letter of credit terms and conditions and can also provide reporting throughout the process up to payment.

Import Letters of Credit

Our import letter of credit service is designed to coordinate the transfer of trade documents and payments. Bank of Oklahoma will assist your company by issuing a letter of credit with your required terms and conditions, reviewing documents for compliance when received, and effecting payment when it is due to the foreign bank.

Standby Letters of Credit

Standby letters of credit enable your company to secure a financial or performance obligation with the beneficiary. Since a standby letter of credit is the written undertaking by a bank that assures payment in the event of default or non-performance of the applicant, it is critical that you work with a financial partner that looks out for your company’s best interests.

Our letter of credit specialists can assist your company in structuring a standby letter of credit that provides protection for your company while also satisfying the beneficiary’s requirements. International businesses may require a performance or financial guarantee in the form of a standby letter of credit as a bid bond, performance bond, or warranty bond. If you are the beneficiary of a standby letter of credit, we can help your company by reviewing the language, and in the event you must draw on the standby, we can assist you in the collection process.

Documentary Collections

Bank of Oklahoma trade specialists can assist your company with documentary collections. Used as an alternative to sales backed by a letter of credit or made on an open account, documentary collections are best used for sales to well established customers in stable countries or for small shipments. Documentary collections are typically more reasonably priced than a letter of credit and do not absorb a buyer’s credit line. To simplify the process for you, we offer an online application service for outgoing collections to facilitate the processing and reporting of documents and the collection of payment.

Trade AdvanceSM

With Trade Advance, our proprietary, state-of-the-art internet-based trade finance system, you can securely manage your company’s cross-border transactions and cash flow—whenever it fits your schedule. With around-the-clock access to your data, you can approve transactions or review reports any time. Trade Advance streamlines the process of creating and distributing the documentation associated with collecting and making international payments. With the easy-to-use application, you can facilitate import letters of credit, standby letters of credit, export letters of credit and import and export collections. Trade Advance makes it easy to meet the various requirements associated with international trading.

Exporter’s Plus

Exporter’s Plus is a full service solution for export letter of credit document preparation, compliance assurance and presentment. Export letters of credit are complex financial instruments that can be a source of frustration to many exporters. Fortunately, with Exporter’s Plus, you have an experienced team of trade professionals to help you expedite the normal payment cycle. Bank of Oklahoma export professionals are familiar with letter of credit requirements and can prepare your documents for you, saving you time and money, thus freeing up your staff to concentrate on your company’s core expertise.

More Information

For more information please call:
Tulsa Area:  (918) 588-8655
OKC Area: (405) 272-2496

Bank of Oklahoma's consultative approach to export financing solutions and our longstanding relationship with EXIM Bank provides U.S. exporters with financing and loan alternatives that can help increase international sales. We can assist in structuring the terms of sale to minimize payment risk, expedite cash flow, and increase competitiveness in the global marketplace.

Financing Structures

Financing strategies can be customized and structured to fit the needs of a single transaction or multiple transactions. Successful financing strategies may include the use of letters of credit, foreign exchange, documentary collection, or may be structured as open account sales.

Acceptance Financing

Whether using a draft created under a letter of credit or a usance draft, discounted financing can help expedite your company’s cash flow while limiting risk and providing your buyer with a means of financing at US interest rates.

As a Delegated Authority Lender under the EXIM Bank’s Working Capital Guarantee Program, we are highly experienced in structuring transactions using EXIM’s Insurance and Guarantee Programs as well as other public and private sector structures. Our direct link to the Export-Import Bank via the Internet under our Master Guarantee Agreement enables us to expedite funding under complex structures. We can help structure:

Pre-Export Financing
This type of financing provides credit availability to suppliers as goods or services become ready to sell. Work-in-process inventory, engineering costs, and purchase orders for the acquisition of inventory may all be used as collateral for borrowing.

Post-Shipment Financing
This type of financing provides credit availability to suppliers after the shipment of goods or the completion of services. Medium or short-term structures are available for financing either the buyer or the seller

Multilateral Agencies

Improve your access to the global marketplace through our extensive network of correspondent foreign banks.

More Information

For more information please call:
Tulsa Area:  (918) 588-8655
OKC Area: (405) 272-2496

Business needs and processes become more complex when a company has transactions that cross borders, operates in foreign countries, makes overseas investments, or maintains import or export relationships. We can address these needs and help create a plan that will enable a company to effectively execute their international payables and receive foreign currency payments in an expedited fashion. We offer a complete range of international treasury services which can be managed electronically through NetConnect, with all your services supported by the high touch customer service that you expect.

International Wire Transfers

Initiate transactions conveniently from your office or by calling our wire room. Whether your currencies are denominated in US dollars and/or foreign currencies we work with our global network of correspondent banks to ensure your payments are delivered efficiently, reliably and securely.

International Drafts

Bank of Oklahoma's draft issuance service conveniently and expediently fulfills your check payment request in 18 currencies. We do the work of printing the drafts you have requested and return them to you quickly.

Foreign Currency Check Deposits

Checks denominated in foreign currencies or drawn on foreign banks require a cash letter solution for clearing.  Our cost effective solution is optimal for clearing checks and is denominated in 19 foreign currencies.

International Collections

An alternative solution for receiving funds from a foreign currency denominated check is to send the item for collection. We can send your check on collection through our international network and provide you the proceeds of the check when it is cleared through the International Clearing System and the bank it’s drawn on.

More Information

For more information please call:
Tulsa Area:  (918) 588-8655
OKC Area: (405) 272-2496

© 2014 Bank of Oklahoma, a division of BOKF, NA. Member FDIC. Equal Housing Lender.