Advising/Confirmation of Documentary Letters of Credit
With a strong worldwide correspondent bank network, we provide fast and reliable documentary credit advising services. To reduce the credit risk and country risk of the documentary credit issuing bank, you may also ask your buyer to arrange with his banker to issue a documentary credit through us with a confirmation request.
Negotiation / Discount of Export Bills under DC
Upon receipt of your export documents, we will advance the bill if the documents are in full compliance with the terms and conditions of the DC.
Transfer Letter of Credit
We can act your request to transfer the original DC wholly or partially to your suppliers, provided that the DC is“transferable”. There are two types of transfer L/Cs:
• Fully Transferable
The DC is fully transferred to the second beneficiary (supplier) from the first beneficiary (middleman) without any alteration of terms.
• Partially Transferable
This DC enables the first beneficiary (middleman) to substitute the draft and invoice submitted by the secondary beneficiary (supplier). The transfer must be made under the same terms and conditions stated in the original DC with exclusion of amount, unit price, expiry date, presentation period and shipment date.
Outward Documentary Collections
Upon receipt of your export documents, we will send them to your buyer’s banker in a timely manner. Documents will be released to your buyer upon payment or against acceptance.
There are two types of export bills for collection:
• Documents against payment (D/P), where the collecting / presenting bank releases the documents to the buyer only against a cash payment in a prescribed currency; and
• Documents against acceptance (D/A), where the collecting / presenting bank releases the documents to the buyer against acceptance of a Bill of Exchange guaranteeing payment at a later date.
Outward Documentary Collections - Advance
When you present the documents to us for collection, we can provide you with a cash advance against your export bills.
You may need pre-shipment financing to settle production costs, such as that incurred to buy raw materials and pay shipping or manufacturing fees. We can offer you our packing loan facilities against the security of the DC.
Export Invoice Discounting
For trading under open account basis and after delivering the goods to your buyer, we can provide you with a short-term loan against your invoice and evidence of delivery of goods.
Fees and Charges
Please refer to our Pricing Guide.