Features

Trust Receipt (TR) is a type of short-term import loan given by the Bank to provide the Buyer (Applicant/Customer) with financing to pay for goods where title of goods is held by the Bank but allows the buyer to take possession of the goods on trust for resale before paying the Bank on TR due date. TR financing is applicable to goods imported under Import Letter of Credit or Import Collections.

Clean Invoice Financing is a type of short-term import loan given by the Bank extend to the Buyer (Applicant/Customer) against clean invoices (local or international) and supporting documents stipulated by the Bank.

Inward Bills for Collection (IC) refers to the Bank’s handling of documents/instructions received from the Drawer (Seller/Exporter) through the Remitting Bank (Bank of the Seller). The documents are released only upon obtain the payment or acceptance bill of exchange from the Drawee (the Buyer/the Importer).

A Shipping Guarantee allows as Importer to take possession of goods from a shipping company when goods arrive at the port of loading prior to receipt of original shipping documents to save storage charges (if any) at warehouse and/or to warranty quality of goods. The Bank issues the Shipping Guarantee subject to indemnity from the Importer (the shipping guarantee Applicant).

In LC advising, the Bank plays the role of an Advising Bank by conveying the LC message to the Beneficiary directly or through the second Advising Bank. By advising the credit or amendment, the Bank signify that we have satisfied ourselves as to the apparent authenticity of the credit or amendment and that the advice accurately reflects the terms of the credit or amendment received. We advise the credit and any amendment without any engagement on our part.

When shipment of the goods under an Export LC is effected, the Beneficiary will present the documents to the Bank for negotiation/payment/acceptance. The Bank will follow to collect the proceeds from the issuing/paying bank. "Negotiation" is the giving of value to draft/documents by the Bank that is authorized to do so.

A Transferable Letter of Credit is a LC in which the Beneficiary (First Beneficiary) has the right to request the Bank specifically authorized in the credit to transfer the credit, available in whole or in part, to one or more second beneficiary (Beneficiaries).

The Bank may also play the role of the Confirming bank if it agrees to add its confirmation to the LC. By confirming the LC, the Bank undertakes to pay the Beneficiary provided that all terms and conditions of the LC are complied with.

Outward Bills for Collection refers to the handling of documents/instructions received from the Drawer (exporter) requesting remitting bank (bank of the Drawer) to present and obtain acceptance and/or collect payment from the drawee (importer) through a Collecting bank (Bank of the Drawee).

Bank guarantee refers to a type of credit whereby the Bank (the Guarantor) undertakes to act on behalf of the Obligor to fulfill their financial obligations to the Obligee in the event the Obligor fails to fulfill or insufficiently fulfill their agreed-upon obligations to the Oblige.

Standby Letter of Credit (SBLC) is undertaking given by the Issuing Bank to fulfill the payment on behalf of the Obligor under the contract, upon receipt demand from the Obligee showing that the Obligor is in breach of the Contract. SBLC is commonly issued for Performance of Contractual Obligation or Financial Guaranteeing for Bank Loan and Security.