Trade Service for Exporters

Export Letter of Credit

This is an undertaking that payments will be made for goods or services supplied by an exporter, provided the exporter meets all the terms and conditions of the import letter of credit. Export letters of credit give you the opportunity to secure pre-shipment and post-shipment finance, easing cashflows.

Packing Credit (PC)

Packing Credit is a pre-shipment financing from the Bank to help a seller to obtain money for the procurement of raw materials and inventory of goods that will be later shipped or sold to a buyer. It can also help the seller to obtain the proceeds before the maturity of the export bill. The advance may amount to an agreeable percentage of the value of the letter of credit issued by the acceptable banks or confirmed order. The proceeds from the export bill would generally be utilized to settle the amount advanced. Customer can choose to obtain Packing Credit either in local or foreign currency.

Outward Bills for Collection

Use this bill for an advance against export bills which are not under letters of credit. Two common outward bills are documents upon acceptance (DA) and documents upon payment (DP). This gives the exporter the opportunity to secure post-shipment financing increasing credit limits.

Credit Bills Negotiated

Credit Bill Negotiated (CBN) is used by exporters to ease their cash flow. The exporters obtain an advance from the bank by discounting their export documents under Letters of Credit.