A payment guarantee from your bank to your seller upon proper documentation from the seller
- Imagine you’re a local toy dealer and you’re planning to import 3 containers of soft toys from China for the first time. Both you and your seller do not have any prior relationship and thus have no confidence in carrying out the transaction
- You can request our bank to issue a LC to guarantee the payment to your seller upon our bank receiving documents requested by you
- With this solution, both of you and your seller’s risks are reduced significantly and a strong trade relationship can then be built
- Sight LC or Usance LC
- Issued in Ringgit Malaysia or Foreign Currency
- LC must be irrevocable
- Amendment allowed
- Specific terms and conditions may be inserted in the LC as a business requirement agreed upon by both parties, applicant and beneficiary