Trade Services

Our trade financing facilities help your business better manage the cost and risk in both domestic and international trade.

Features:

Extensive network:
Build your business by leveraging our extensive international network that spans over 32 countries.

Expert Solutions:
A team of experienced relationship managers to help you with your trade finance needs.

How It Works:

Our Customised Solutions:

Letter of Credit
A letter of credit from us assures that payment will be made to your supplier after documents that comply with the letter of credit have been received.

Term Loan / Trade Loan
We can assist you in meeting your immediate payment obligations by bridging the gap between making payment to your suppliers and receiving payment from your buyers. Tenor of trade loan varies according to the trade cycle of your business, while the interest is calculated on a daily basis based on the outstanding amount.

Guarantees

Labour Guarantee
Which is required by the Labour Department in processing the employment applications for foreign workers.

Shipping Guarantee
Allows you to take delivery of your goods before you receive the bills of lading from your suppliers. The amount of performance bond is usually based on the value of contract.

Invoice Financing
This is a short-term trade financing for a buyer / importer based on the invoice raised either domestically or cross-border. The tenor of financing will be based on the trade cycle of your business, up to 180 days.

Receivables Financing
The most common types are Government/Brunei Shell Petroleum (BSP) Receivables Financing, where we will provide a percentage of financing against the value of receivables. Typical tenor is up to 180 days for Government Receivables Financing and up to 90 days for Shell Receivables Financing. Interest is calculated daily on the amount financed and total interest will be debited upon receipt of payment from the Brunei Government or BSP.

Eligibility

To Be Eligible, Your Business Must Fulfil The Following Requirements:

Sole Proprietorship, Partnership or Private Limited Company registered or incorporated in Brunei;
Have been established and in operation for at least 3 years

Security requirements:
Acceptable collateral/securities are Cash, Debenture, Assignment of Project Payments, Bank Guarantees, Standby Letters of Credit (SBLCs), Residential and Commercial Properties.

Documents Required

Standard Documents:

Certificate of Registration - section 16 & 17 (for sole Proprietor and Partnership only) Certificate of Incorporation and Form X, Memorandum and Articles of Association, List of Shareholders and their particulars (for Limited Company only)
Identification Card (IC) or Passport of sole proprietor / partners / directors / shareholders / guarantors
Profit & Loss Balance Sheet of past 3 years (audited / management) - minimum 2 full years and latest financials not more than 6 months old from date of application
Projected Profit & Loss for the current financial year
Past 6 months company / personal bank statements
Latest debtors and creditors aging report
Organisation chart / management team Brief write-up of company profile / background

Additional documents for project financing (construction):

Letter of award for project
Projected cash flow for project (scope of work)
List of projects completed, in progress and tendered for (project name, amount and period to be stated)

Terms And Conditions

Please refer to the Account Terms and Standard Terms and any other documents forming our banking agreement.