| • Banker's Acceptance |
Banker's Acceptance is an attractive financing tool with the objective of encouraging and promoting both domestic and foreign trade. It is a negotiable Ringgit Bill of Exchange, which the customer must repay at a specific future date. |
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| • Bank Guarantee |
| A Bank Guarantee allows customers to supplement their cash flow through an unconditional undertaking by the bank. The Bank will pay a sum of money to the beneficiary against presentation of a written demand and any other documents specified in the guarantee upon actual default by the principal in the underlying transaction. |
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• Letter of Credit Issuance |
| A Letter of Credit is a written undertaking given by a bank, on behalf of a buyer, to make a specified payment to a seller named in the Letter of Credit. The bank will only make payment upon presentation of the stipulated documents, which complies with the terms and conditions of the Letter of Credit. Letter of Credit covers the buyer's risk and guarantees payment to the seller. |
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| • Inward Bills for Collection |
| Referring to inward documents which are not drawn under the Letter of Credit and received by the bank on behalf of a buyer on a collection basis. The bank will adhere strictly to the instructions stated in the covering schedule. It will safeguard the seller's title to goods until either payment is received (Documents Against Payment) or the buyer accepts a Bill of Exchange to pay at a maturity date (Documents Against Acceptance). |
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| • Shipping Guarantee |
| A Shipping Guarantee is issued when the carrying vessel arrives earlier than the title documents. It is a written indemnity by the bank to the shipping company, which allows an importer to take possession of goods even without the Negotiable Bill of Lading. |
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| • Trust Receipt |
A bridging loan that provides a mean of financing to the buyer to draw funds for the settlement of sight purchases. Under a Trust Receipt, the customer will pledge the purchased goods in favour of the bank. The buyer will take possession of the goods but hold them in trust for the bank. When the buyer sells the goods, the proceeds of the sale will be used for settlement of the financing. |
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| • Foreign Currency Trade Loan |
| Foreign Currency Trade Loan is a short-term trade advance facility in foreign currency. |
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| • Export Credit Refinancing |
| Export Credit Refinancing is a subsidised financing facility for the purpose of promoting the exports of manufactured products, agricultural products and selected primary commodities that have significant value-added and utilise local indigenous resources. There are two types of Export Credit Refinancing facilities available namely Pre-Shipment ECR and Post Shipment ECR. Pre-Shipment ECR is used for financing of domestic raw material inputs and overheads. Post Shipment is used for financing of usance exports. |
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| • Letter of Credit Advising |
| Letter of Credit favouring a seller, which is received and advised by the bank. |
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| • Outward Bills for Collection |
| Referring to outward documents which are not drawn under Letter of Credit and send to the buyer by the bank on behalf of a seller on a collection basis. It will safeguard the seller's title to goods until either payment is received (Documents Against Payment) or the buyer accepts a Bill of Exchange to pay at a maturity date (Documents Against Acceptance). |
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| • Bills Purchased |
| Bills Purchased allows a seller to obtain financing and receive immediate funds in exchange for sales document not drawn under Letter of Credit. The bank will send the sales documents to the buyer's bank on behalf of the seller. |
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| • Packing Credit Advances |
| Packing Credit Advances is a facility given to the exporter for the financing of working capital requirement. The financing is given against submission of export order or inward Letter of Credit and a letter of undertaking by the exporter. |
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| • Credit Bills Negotiation |
| Credit Bills Negotiation allows a seller to obtain financing and receive immediate funds in exchange for sales document drawn under Letter of Credit. The bank will negotiate the sales documents on behalf of the seller and claim reimbursement. |
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| • Structured Trade |
| Trade solutions are designed/structured and customised to the business requirements of customer. |
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