Import & Local Transaction

1. Letter of Credit/SKBDN
Issuance of Letter of Credit is provision of opening LC facility to purchase goods and services from overseas to Indonesia. Whereas issuance of Domestic Credit (SKBDN) is to purchase goods between regions or cities or islands whitin Indonesia.
Types of LC/SKBDN facility given as follows:
a. Sight - The seller can receive payment immediately after submit documents required by LC/SKBDN.
b. Usance - Seller will receive payment based on time determined by the term in LC/SKBDN.
2. Usance Payable at Sight (UPAS)
Giving UPAS facilities to customers to purchase goods or other services, in order to import trade and locally by using Usance LC/SKBDN financed by sight.
3. Post Import Financing (PIF)
Short-term financing granted by the Bank to the importer or buyers, which is used to pay obligations on trade transactions using LC/SKBDN.
4. Shipping Guarantee
The provision of guarantees by the Bank to the Shipping Company to release goods to importers before receiving Original Bill of Lading (B/L) or Airway Bill. This is to avoid Demurrage charges if the goods are not immediately removed from the customs within certain period of time.
5. Inward Documentary for Collection / Bill Collection
Bank handles the billing process for import documents without LC to importers / buyers, including its financing. The document can be Documents against Payment (D/P) or Documents against Acceptance (D/A).