Products Offered
Import
Backed by our many years of trade finance experience, we can serve you with a wide range of import financing products at competitive terms. Our services can enhance your business at international level. Here’s how we can help you.
a) Issuance of Letter of Credit
As a well established bank with a global network, we can support your import transactions with our well rated credit standing. Supported by our global standing and international reputation, our Letter of Credit will give your suppliers the assurance of payment once they lodge their export documents for payment under our LCs at any international bank in any part of the world.
Being a bank of global presence, your suppliers get confidence on our Letters of Credit and feel free for any business transactions with you. Further, they can use our LCs for obtaining financing to help their business. The LCs issued by our bank give you and your supplier multiple facilities to ease the transactions.
How we can serve you
We understand that time is the key element in your import business. We thus ensure that your supplier receives your LCs quickly and that is backed by our global network and state of the art technology being used by us. With our global banking network, we can ensure that your suppliers will receive your LC quickly, so that your goods are shipped on time. On receiving the documents from your supplier our expert team immediately inform you and professionally handle your documents for quick possession of the goods.
As we are highly experienced in handling diverse types of LCs, we can provide you with the most appropriate LC according to your requirement. Our expertise also allow us to anticipate and resolve any issues that you may encounter with your suppliers.
b) Shipping Guarantee / Airway Bill Endorsement
If your goods have arrived at the port and you fear demurrage due to non receipt of shipping documents on time, you need not worry because we can arrange shipping guarantees and help you out for timely release of shipment. You can avoid demurrage and delay in the receipt of goods by getting shipping guarantees issued or airway bills endorsed by our counters.
How we can serve you
Our trade team is well conversant with the local requirement of the shipping lines as well as the exchange regulations and will help you for timely issuance of shipping guarantee or endorsement on the airway bill.
c) Finance Against Trust Receipt
If you have already invested your funds in the business and are short of funds to obtain your import documents, we can arrange import financing facility for you. Through financing against trust receipt you can get your documents released for timely clearance of your goods. This facility is provided for a certain period against conveniently prepared set of documents and limits already established.
How we can serve you
With our import financing facility under Trust Receipt you can improve the turnaround of your business and avoid worrying about the arrangement of funds for release of goods.
d) Issuance of Guarantee / Bid Bond / Standby Letter of Credit
We can assist you in your new business endeavors whenever you plan to bid for new contracts as our guarantees are accepted worldwide due to our global presence.
The assurance given by our guarantees to your business partners, in the local market and all around the world, that you will meet your obligations, help strengthen your business. Your business partners will prefer to deal with you because BG / BB / SBLC issued by us secure more financing for their transactions on account of our credit worthiness.
How we can serve you
Backed by our international network our BG and SBLC are accepted worldwide. Thus our guarantees will give your suppliers and customers greater confidence to deal with you and to trust you for your dealings.
e) Inward Bills Collection
Our international reputation gives confidence to your suppliers that their documents are handled professionally and in timely manner. This will convince your partners around the world to channel their document for collection at our bank.
How we can serve you
The payment against collection documents is subject to exchange regulations and our expert team can speed up the processing of your documents and your supplier need not worry about any extra charges and delays in the payment as we are present around the world.
Export
In developing nations, Exports has warranted the top priority of the government’s agenda for improving the position of Foreign Exchange Reserves with high GDP Index. We thus offer our services for playing a vital role in the achievement of national targets. Our established network for global and regional services can help you manage even the most complex challenges in international trade. Backed by our sound footings in the export financing, we provide you with the right set of export products and services.
a) Advising of Letter of Credit
With our global standing, we can help you verify and authenticate your LCs received from around the world. We can contact the LC issuing banks on your behalf and can support you in resolving any issues in your LCs quickly and efficiently.
We can offer our technical assistance with a view to avoid any settlement issue that may appear latter.
How we can serve you
We have correspondent arrangements with most of the banks around the world through whom your importers can transmit the LCs to us. Your counterparty can avail our service to advise your LCs without delay.
b) Confirmation of Letter of Credit
With an unfamiliar / never experienced before importer you as the seller is exposed to greater risks. As your bank we can help mitigate such risks by adding confirmation and undertaking the payment obligations.
How we can serve you
If you feel any risk in the payment against your LC documents, you can just request the LC Issuing Bank to provide confirmation instructions to the LC. Then we’ll review the terms and conditions of your LC to ensure that it has all the technicalities needed to take over the risk and put you at ease.
c) Negotiation/ Discounting of Letter of Credit
Being your banking partner, we can assist you to prepare your documents under LCs. Further, if you need advancing these documents we can discount your documents at competitive rates according to the currencies. We purchase your documents with a view to facilitate your cash flows.
How we can serve you
If conditions in your LC warrant, we can finance you against the LC without having any effect on your credit lines. We have the expertise to help you prepare the right documents to present under your Letter of Credit so that you can be paid immediately.
d) Packing Credit Loan
Packing credit is a sort of pre-shipment or pre-export financing which we extend to you against your letter of credit. This financing will help you in meeting your shipment obligations faster to your buyers. PCL can be used for freight charges, clearing forwarding charges, export duties, handling charges, purchase of goods and packing requirements.
How we can serve you
According to your relationship with us we design a suitable financing package to suit your business requirement. Our relationship managers can offer assistance for you to manage your credit lines for your pre and post shipment requirements.
e) Outward Bills Collection
As an exporter, according to your relationship with your buyer, you will be required to send your documents for collection of your payment. As your banking partner, our Bills Collection service allows us to act as your collecting agent through our global banking network. We can safeguard your goods until your buyer makes payment or accept the payment terms. Further, we can advance your export documents to meet your cash flow requirements provided they are within the established limits and meet with our set parameters.
How we can serve you
To avail this service, you hand over your documents to us for handling by our expert team. We ensure the arrangements with your buyer’s bank and forward your documents for collection. We assist you in the collection of your payments efficiently.
