Trade Financing

Letter of Credit

(LC) undertaking, usually on the part of a bank and at the request of one of the bank's customers, to pay a named beneficiary a specified amount of money (or to deliver an item of value) if the beneficiary presents documents in accordance with the terms and conditions specified in the letter of credit.

  • Domestic Letter of Credit
  • Import Letter of Credit

Standby Letter of Credit

(as opposed to a commercial letter of credit), letters of credit that do not cover the direct purchase of merchandise, because it is often intended to be drawn on only when the applicant for whom it is issued fails to perform an obligation.

  • Domestic Standby Letter of Credit
  • Foreign Standby Letter of Credit

Bank Guaranty/Credit Line Certification

Bank Guaranty is a form of credit accommodation such that the beneficiary of this facility may draw against it any time during the validity period provided the specified conditions are met.
Credit Line Certification attests to the availability of a credit facility to a particular client.

Inward Bills for Collections / Non-LC Trade Services

  • Documents Against Acceptance (DA) Commercial and financial documents sent on collection are released to the drawee/buyer upon acceptance of a SELLER'S bill of exchange obligating the importer to pay for the shipment at some future date.
  • Documents Against Payment (DP) Commercial and financial documents sent on collection are released to the drawee/buyer only if payments are effected.
  • Open Account Arrangement (OA) an arrangement whereby shipping documents are sent and released by the seller directly to the importer without coursing the documents through the banks, upon the importer's promise to pay at some future date of shipment. Bank can act as the remitting agent of the buyer to the seller or can finance the payment of importation.

Trust Receipt

(TR) is a credit facility which enables the client to get hold of their goods, without any cash outlay and is provided title to the goods with a commitment to settle his obligation with the bank after receipt of proceeds from his sale of the goods.

Export Letter of Credit Advising

Export Bills Purchased - LC and Non LC

(DP/DA/OA) is a credit facilty whereby the bank advances payment to exporters in Dollars or in Pesos upon presentation of original shipping documents at our counters together with the corresponding Original Letter of Credit (if under LC)

Outward Bills for Collection - LC and non-LCs

(DP/DA) Export documents against Letter of Credit (LC); Documents against payment (DP); Documents against Acceptance(DA) sent for acceptance and payment basis to the issuing bank( if under LC) or to the nominated bank of the buyer (in the case of Non-LC) upon the request of the exporter.

*Other Trade Services: Acceptance of Duties and Taxes for payment to Bureau of Customs.