Overview

Suppliers' Credit is a facility where in Supplier and Buyer agree on a payment term such that the Supplier gets paid at sight/ as per payment terms from his Bank through LC Negotiation and Buyer gets time period to make payment as per the usance of LC.

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Features &
Benefits

Features & Benefits

  • imgThe buyer can deal with the seller on a sight basis and negotiate a better deal.
  • imgApplicant gets access to cheaper funds from international markets
  • imgMultiple financing locations
  • imgQuick Turn Around of transactions

How it works?

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Buyer approaches our Bank with the requirement of financing
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We provide quote from Funding bank to the client.
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Post acceptance of quote by the client, we proceed with Documentation and LC issuance.
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LC is sent to 1st Advising Bank (Negotiating Bank) and is further advised to 2nd Advising Bank (Beneficiary Bank).
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Exporter ships the goods and submits documents to his Bank, who further sends to Negotiating Bank.
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Negotiating Bank pays the Bene Bank as per LC terms i.e., at Sight/ on Acceptance from Issuing Bank.
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On due date Importer client pays us Principal plus applicable Interest and the same is remitted to Negotiating Bank
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Fee &
Charges

Fee & Charges

SOC –Trade

Disclaimer:

Product offering is subject to certain eligibility criteria as per Bank's internal policy and is subject to Bank's discretion