Import Services

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• Renminbi Trade Settlement Services

  Trade directly with China in RM and RMB

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• Open Account Loan (OAL)

  A trade financing facility for financing of your purchases/imports/sales/exports under Open account terms

  Key info:

  Minimum financing amount:
  RM30,000
  
  Margin of advance:
  Up to 100% of buyer’s/supplier’s invoice amount or part thereof
  
  Maximum financing period:
  Up to 180 days subject to customer’s usual trade cycle

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• Bankers Acceptance (BA)

  A bill of exchange drawn by customers to their order, payable on a specific future date and accepted by the bank for the purpose of financing trade transactions i.e. export, import or domestic

  Key info:

  Minimum amount of financing:
  RM50,000 or equivalent

  Minimum financing period:
  21 days

  Maximum financing period:
  365 days

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• Onshore Foreign Currency Loan (OFCL)

  A facility in foreign currency to finance the import of goods from foreign suppliers and export of goods to foreign buyers

  Key info:

  Minimum financing amount:
  USD$50,000 or equivalent

  Minimum financing period:
  14 days

  Maximum financing period:
  180 days for USD
  1,2,3 or 6 months for other currencies

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• Issuance of Documentary Credit (LC)

  A document given to a seller by the bank at the request of the buyer to pay a stated sum of money against stipulated documents and compliance of the terms and conditions within a prescribed time limit

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• Trust Receipt (TR)

  A financing facility that allows you to collect your local/foreign purchases before payment of the Sight Bills/Usance Bills, as payment to suppliers is advanced by the bank

  Key info:

  Maximum tenor:
  Up to 180 days, determined based on the turnover period of goods

  Margin of advance:
  100% of the bill amount plus other payments e.g. freight / carrier charges and import duties

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• Shipping Guarantee (SG)

  A document issued by the bank to the shipping company that allows the importer to collect the goods from that shipping company in the absence of a Bill of Lading

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• Inward Documentary Collection (IDG)

  Bills received from correspondent banks with instruction to obtain payment or acceptance from the buyer, deliver documents to the buyer against payment, or deliver documents against acceptance and/or to obtain payment on maturity date

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