people cashone personal loan credit card

An import Loan is a short-term cash advance (with recourse) that enables the customer as an importer to meet the customer‟s immediate payment obligations under a sight or usance Letter of Credit presentation or Import Documentary Collection. Under such arrangements, Standard Chartered Bank finances the customer‟s import commitments by making payment against the Letter of Credit or Documentary Collection and receives payment from the customer at a pre-determined date in the future. Here, the credit period between the time that the bank provides finance and the time the customer repays the bank, should be sufficient for the customer to either manufacture goods for final sale or for direct sale to end buyers.

car benefit gap cover
  • This will allow the customers more financial resources to clear goods from the port and manufacture, store or arrange for final sale to the end buyer
  • The supplier is independent of the process of raising finance. They need not sign any documentation, but receive payment as per the original contract terms through the Letter of Credit or Bill for Collection
  • As the customer is able to reimburse the suppliers on a sight basis or when the tenor is due, this will increase the bargaining power of the customer – typically in terms of the contract price.

  • A credit limit sanctioned for Import Loan
  • Request for financing should be made in the Bank’s standard form, and duly signed by authorized signatories of the customer‟s company as per the Bank’s records.
  • The Letter of Credit should call for a complete set of original bills of lading that are consigned “to order” and blank endorsed or consigned to the order of Standard Chartered Bank. These bills of lading and other essential trade documents will be released to the customer upon receipt of the duly signed trust receipt form.
  • The underlying goods with which Standard Chartered Bank is financing must be suitable (i.e., Standard Chartered Bank reserves the right to reject financing of fashionable goods, perishable goods or price volatile goods).
  • The financing period that is accorded to the customer must be matched to the customer‟s cash conversion cycle, which typically would be about 90 days or less but in any case should not exceed 180 days.
  • Financing should normally be in the same currency as the proceeds paid under the Letter of Credit or Bill for Collection. However for clients who are in the Domestic Banking Unit (DBU) the financing will be in the local currency, unless they are entitled to borrow in foreign currency.
Import Loans Import Loans


This is to inform that by clicking on the hyperlink, you will be leaving www.sc.com/lk and entering a website operated by other parties:

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting www.sc.com/lk