Import Trade Services
Import Letter of Credit
- Letter of Credit (LCs) is among the most secured instruments available to international traders. We help you to explore new business opportunities with our Letter of Credit service. We conduct Letter of Credit issuance at your request and protect you by ensuring the correct payment is made by the prescribed time. We provide the documents checking service when we receive the documents from the presenting bank. We also offer all common types of Letter of Credit that fits your business nature, which includes transferrable Letter of Credit and back-to-back Letter of Credit.
Import Collections Services
- To help you better liquidate and keep cash flow healthy, we provide you import bills collection service: Documents against Acceptance (DA) and Documents against Payment (DP) for different currencies at a timely manner. We also offer you import bills financing that makes direct payment to suppliers to fill the time gap between import payment and sales of the goods.
- We aim to use this product to provide greater flexibility and liquidity by filling the gap between payments for imported goods and receipt of funds from sales. There are three common types of import financing that we are offering, namely, Loans against Trust Receipts, Import Loan and Import Invoice Financing.
- We can help you collect your goods before arrival of documents by issuing a Shipping Guarantee to the shipping company. You will therefore be able to take immediate possession of the goods for your business operations to continue smoothly.
Transferable Letter of Credit
- We provide you letter of credit transferable service upon your agreed payment method between buyers and suppliers. With the help of our professional trade specialist, you can enjoy a much simpler process in trade transactions while the establishment of trade banking facilities is not required.
Bank Guarantee / Standby Letter of Credit
- We help to ensure your buyer or seller of payment with a Banker’s Guarantee/Standby Letter of Credit. We will honour payment to your beneficiaries upon receipt of a claim that complies with the guarantee/standby Letter of Credit terms when your fail to fulfil obligations. Our Bank Guarantee / Standby Letter of Credit could be used as payment guarantee, bid bond, performance bond and financial guarantee that suits your business needs during different business cycles.
Export Trade Services
Export Letter of Credit Advising
- Riding on our strategic global network, we will act as advising bank provide fast and convenient Letter of Credit advising service. Our trade specialist will practice professional due diligence to authenticate the Letter of Credit to ensure that the Letter of Credit comes from a genuine source and inform the beneficiary of the Letter of Credit promptly.
Export Letter of Credit Confirmation
- Our Letter of Credit Confirmation service could help you to mitigate the credit and country risks associated with issuing bank or political climate of the issuing bank’s country. You can ask your buyer to arrange with the issuing bank to allow us to confirm the Letter of Credit. We will assure the payment against completed documents if the issuing bank is unable to obligate the payment.
Letter of Credit Negotiation
- To help businesses to improve cash flow and reduce payment risk, we will provide Letter of Credit Negotiation service after checking the completeness of the export documents. With our fast and reliable service, you can immediately turn your receivables into cash.
Export Bills Collection Service /Discounting
- To help you better liquidate and keep cash flow healthy, we provide export bills collection service (D/A, D/P) for different currencies at a timely manner. We finance your export bills before your buyers make payment. You can obtain cash earlier to meet your daily working capital requirement. Facilities for discounting of your export collections are also available.
Our Receivable Services Financing allows you to obtain funding against their accounts receivables due from the buyers in the Standard Chartered footprint across the globe. This financing will not only enable you to manage their accounts receivables more effectively and obtain working capital more easily, but also provide an option for the clients to have credit protection against buyers’ potential default. Unlike other trade facilities, there is usually no need to pledge additional collaterals for application of this facility.
2 types of Receivable Services
- Disclosed Receivables Services and non-recourse. We will follow up on your accounts receivables outstanding with your buyers who will in turn make repayment on your invoices to the bank. In a non-recourse structure, you will have credit protection on protracted default and bankruptcy risks of your buyers.
- Disclosed Receivables Services and on recourse. We will follow up on your accounts receivables outstanding with your buyers who will in turn make repayment on your invoices to the bank. There will be no insurance taken on the protracted default and bankruptcy risks of your buyers.
FAQ for Receivable Services:
- 1. How much prepayment can my business expect to receive on its invoices?
We can prepay up to 90% of the gross invoice value. However this is dependent on several factors and the exact prepayment percentage will be determined after the submission of the application with the relevant financial documents to the bank. For details, please refer to the terms and conditions.
- 2. My business is growing and it needs additional working capital. Is Receivables Services suitable?
We consider Receivables Services is suitable for growing businesses. In fact, it is a unique credit facility where the credit line granted increases with your business’ growing sales rather than with additional assets pledged to the bank.
- 3. How do I know whether my business is suitable for Receivables Services?
On a broad level, Receivables Services is a credit facility well-suited for a wide range of industries including but not limited to, for example, service, food manufacturing, precision engineering, construction, printing and packaging and general trading.
- 4. Would my business lose buyers’ trust in the financial standing of my business?
We do not think so. On the contrary, it might be the case that buyers would place more trust in your business, in view that there is an assured cashflow in your business.
- 5. Does the business have to pledge any assets to the bank?
In most cases, there is no need to pledge additional assets to the bank. However, it depends on a case by case basis.
- 6. How do I know when the buyer has made payment?
The amount will be refunded through your business’ bank account after the buyer payment is cleared. Additionally, a payment advice will be sent with the refund information.
Terms and Conditions apply. Please click here.