Domestic Letter of Credit is a mode of payment for goods and services purchased
locally, effected by the issuing bank after the beneficiary’s compliance with the
documentary requirements and other terms and conditions stated in the letter of
Export Bills Purchase/Negotiation
An Export Bills Purchase or Negotiation line allows you to make advances for negotiations
or shipments made against export orders backed up by firm orders from buyers abroad.
Export Letter of Credit Advising/Confirmation
Import Letter of Credit
Import Letter of Credit is a mode of payment for goods and services purchased outside
of the country. A letter of credit is an instrument that declared the issuing
bank’s obligation to pay the beneficiary after the presentation of complying documents
and adherence to the terms and conditions specified in the letter of credit.
Standby Letter of Credit
Documents against Acceptance
Documents against Acceptance is a type of documentary collections wherein the release
of the original commercial documents to the buyer is made upon its acceptance of
the time draft. A time draft is a financial document signed by the seller, instructing
the payment of the specified amount at a stated future date.
Documents against Payment
Documents against Payment is a type of documentary collections wherein the commercial
documents are released to the buyer upon its payment of the sight draft. A sight
draft is a financial document signed by the seller, instructing immediate payment
of the specified amount upon presentation.
Open Account Arrangement
An Open Account arrangement is a payment option for the buyer, wherein the seller
agrees to ship the goods and title documents before receiving payment or written
promise to pay. All negotiations are settled by the buyer and the seller and the
Bank acts as an intermediary to facilitate the agreed terms & conditions.
Trust Receipts Financing
A Trust Receipt is granted to an importer by the Bank to facilitate the release
of the goods in trust, when financial resources are not immediately available to
settle the import obligation.