Trade Finance

Letter of Credit (L/C)

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.

Trust Receipts

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.

Inward Bill Collection