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Imports
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Letter of Credit (L/C)
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An L/C is a written undertaking issued by BEA to the seller (beneficiary), for account of the buyer (applicant), to pay a sum of money upon the seller’s presentation of documents in compliance with the terms and conditions set forth in the L/C. It is a useful tool for importers, especially when negotiating with new suppliers from new sources. |
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Trust Receipts
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Upon receipt of import documents drawn under the L/C or upon collection from the seller’s bank, BEA offers short-term trade loans under trust receipts (for pre-approved tenor and interest rate) to the importers. By special arrangement, BEA can also finance open-account purchases under trust receipts for valued customers upon their presentation of original invoices and negotiable transport documents. |
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Inward Bill Collection
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BEA acts as the collecting agent for the seller’s bank to present collection of bills drawn on their customers for payment or for transfer to trust receipts. |
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For further enquiries,
please contact our Branch,
call our Business Development Department
on (65) 6602 7848 / (65) 6602 7849
or Trade Services Department on (65)
6602 7911 / (65) 6602 7917, or email
us at info@hkbea.com.sg. |
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