Domestic Trade Services

Domestic Trade Services

Local Letter of Credit

Local letter of Credit is a payment commitment issued by CB Bank to the seller to pay the agreed amount on behalf of the buyer, upon receipt of documents specified in the letter of credit and complied with the regulations.

Benefits to Buyer
  • Secured and reduce financial risk ­− payment will not be made to the seller who doesn't fulfill or has missing parts in fulfilling the provision of LC.
  • Enhanced cash flow
  • Same day LC issuance when the application meets the requirement
How does it work? (Buyer)
  • Buyer applies for Local LC in CB Bank.
  • CB Bank issues LC and sends it to the seller or seller’s bank.
  • The seller delivers goods and sends the required documents to CB Bank.
  • CB Bank notifies the buyer upon receipt of documents.
  • CB Bank pays to seller’s bank upon the buyer’s acceptance of the bill and giving payment instruction.
  • After that, the buyer can collect the trade document from CB Bank to obtain the goods.
RATES AND FEES (SUBJECT TO CHANGES)

Pre-arranged fees & charges