(6 May 2025 ā United States) HSBC has released its new TradePay for Import Duties solution, a targeted financing product for US corporates that streamlines the payment of import duties while optimising liquidity management and working capital.
Corporates are increasingly struggling with complex working capital management needs and increased upfront commitments. By settling payments of import duties directly and frictionlessly through HSBC TradePay, businesses can simultaneously access credit and complete payments, leading to more efficient settlement times and better visibility over cash flows. The solution is flexible and ensures import duty payments are made directly by HSBC, either through pre-agreed credit terms with brokers or direct ACH credits.
āClientsā working capital needs are evolving and weāre responding swiftly with solutions that deliver the most value to them. By settling import duties directly and frictionlessly through HSBC TradePay, our US clients have more visibility and control over their working capital at the time they need it most. As the worldās leading trade bank, weāre committed to supporting global businesses as a strategic partner and innovative problem solver, helping our clients navigate the complexities of global tradeā commented HSBC Head of Global Trade Solutions, Vivek Ramachandran.