Trust Receipt (Import Financing) is a short-term international trade credit to enhance liquidity for business, a service in which KBank pays for goods for importers before they get payment from their sales.
Importers can benefit as they can have the funds from the pending payment to use as working capital in their business. The importer can pay off the loan at a later date from the sales proceeds of the goods as agreed.
Import L/C Issuance
Import L/C Issuance is the type of service which KBank undertakes to pay for goods or services per the request of applicant or importer by issuing L/C to the exporter via the exporter's advising bank in Oversea Countries. KBank will pay the exporter if the presented documents comply with all terms and conditions specified in the L/C, and are in compliance with the rules and regulations of the International Chamber of Commerce (ICC).
The key benefit to both importer and exporter is to reduce the risks and uncertainties associated with commercial transactions and facilitating trade for both trade counterparty. On one hand, Import L/C Issuance is guarantee and secure to the exporter on the payment of the goods. Whereas the importer is also secure will receive the goods as per its order.
Import Bills for Collection
A service in which KBank acts as a collecting bank in collecting payment for goods and service from domestic buyers or importers to pay oversea sellers.
The payment is made through the seller's collecting bank sending the collection documents according to the conditions agreed upon buyer and seller.
In collection process, we will follow the seller's instructions and the ICC Uniform Rules for Collection (URC 522).