Letters of Credit

Import LCs
Import Letter of Credit is a mode of payment for goods and services purchased in another 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. 

Domestic Letter of Credit
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 credit.

Export Letters of Credit advising/confirmation

Export Bills Negotiation/Purchase
An Export Bills Negotiation or Purchase line allows you to make advances for negotiations or shipments made against export orders backed up by firm orders from buyers abroad.


Documentary Collection

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.

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. 


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 Receipt 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.