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LETTER OF CREDIT

Import Letters of Credit

CAB issues L/C for account of its client, (the applicant/ importer) in favor of the beneficiary (the seller/ exporter) which, at the applicant's option can be tied with overdraft facilities.

Product Features & Charges
  •  
    		•  Issuance  
      Issuance Commission 015%/ mo.(Min USD 50)
      Telex USD 50
  •  
    		•  Amendment  
      Amendment Commission  
      Extension 0.15%/ mo.(Min USD 60)
      Text Repair USD 20
      Telex USD 30
  •  
    		•  Cancellation, if unused within validity USD 50
  •  
    		•  Shipping Guarantee* 0.1%(Min USD 30)
  •  
    		•  Endorsement of Airway Bill* USD 20
  •  
    		•  Negotiation Commission 0.15%(Min USD 50)
  •  
    		•  Document Handing Fee USD 50 per set of documents
  •  
    		•  Acceptance Commission(Usance LC) 0.15%/mo.(Min USD 50)
  •  
    		•  Telex Advice USD 20
  •  
    		•  Settlement USD 30

    * Subject to Trust Receipt arrangement if without cash margin.

    Export Letters of Credit
    CAB Accepts L/Cs issued by other banks for advising to beneficiary. Export L/Cs can be tied with a short term loan facility that may be availed by the beneficiary/ exporter for additional capital requirements.

    Product Features & Charges
  •  
    		•  Advising Commission  
      - Relay of pre-advice telex USD 20
      - Full Text Advising of L/C USD 30
      - Amendment USD 20
  •  
    		•  Nigotiation or documents Handing 0.15%/mo.(Min USD 50)
  •  
    		•  Courier USD 30 within 0.5 Kg.
  •  
    		•  Telex USD 30

    Benefits
  •  
    		•
    Transactions are documents-based and there is more certainty of payment.
  •  
    		•  Instrument is flexible to suit the requirements of all parties
  •  
    		•
    Irrevocable L/Cs cannot be amended or cancelled without the agreement of all parties.
  •  
    		•
    Export loans, negotiation or financing for import L/C(Trust Receipts Discounting of Draft) can be arranged.
     

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