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Trade Finance » Foreign Bill Purchase (FBP)
Foreign Bill Purchase (FBP)
Service Features
In case of having a credit line with the bank, after all documents are checked, the bank will buy Foreign Bills under the L/C (Usance L/C) by payment in advance and later collected such payment from the issuing bank.
Type of Service
Foreign Bills Purchased: FBP is one of our services allowing customers (sellers / exporters) a working capital under the service terms and conditions. Foreign Bills Purchased with Usance L/C, sold by customers, will be bought at the discount rate stated by the bank.
Service Objectives
To provide customers a working capital for running business during waiting for a payment from issuing bank after delivering all products under the L/C
Applicants' Qualifications
Being international exporters
Having a credit line with the bank
Service Terms/ Conditions
Service Conditions
- Having a credit line with the bank
- If not, loan approval from loan department will be required case by case
Export ticket according to L/C can be submitted at the branch where the customer has an account or at international business center or international trade department
Required Documents
Request for Negotiation / Discount of Export Bills Drawn under Letter of Credit Application
Original L/C and L/C Amendment (if any) with L/C Advising Advice
Bill of Exchange
Documents as stipulated on L/C such as
- Commercial Invoice
- Products Delivery Documents such as Bill of Lading (B/L) or Air Waybill (AWB) or Trust Receipt / Railway Receipt or Parcel Post Receipt etc.
- Insurance Policy
- Packing List
- Weight List
- Certificates such as Certificate of Origin, Inspection Certificate, etc.
- Other documents agreed by both parties
Benefits
Receiving working capital in time without waiting for the L/C issuing bank payment, to enhance investment liquidity
For any query please Contact at: Tel: (PABX) 9551614 FAX: 880-2-9564009 or e-mail us at [email protected]
Foreign Currency Rates
Currency Buying Selling
USD 81.00 82.50
EURO 86.15 90.80
GBP 99.70 104.70
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