Import Trade Finance
Our Product offering is managed by experienced staff who ensure that your import documents are processed and settled without any delay. The product range includes
- Issuance of Letter of Credit (LC)/Documentary Credit
A SBI letter of credit gives you the assurance from India’s largest bank when dealing with unknown suppliers, you can be sure that payment will be made as per the credit arrangement only after the documents are duly received and verified to be in order. SBI Singapore can also help you secure your purchases by issuing a Back-to-back LC to your suppliers with the same terms and conditions as the Master LC from the End Buyer. However, back to back LC facility is available to companies having credit limits with SBI Singapore.
- Import Document Collection
SBI Singapore informs your supplier to send their shipping documents to us so that you can enjoy prompt advice upon our receipt of documents and efficient payment according to your instructions.
SBI offers Indian importers short term finance up to 360 days from shipment date in US$ or any other major currencies at very competitive SOFR / ARR linked rates, under Letter of Undertaking of branches of SBI and other major Indian public and private sector banks.
- Trust Receipt; Invoice Finance; Freight Finance
SBI Singapore offers Trust Receipt, Invoice Finance and Freight Finance to its customers who have been granted credit limits.
Export Trade Finance
SBI Singapore undertakes prompt advising of export Letter of Credits (LC) issued by Indian branches of State Bank of India, its associate banks along with most of the major banks across the world. To provide you greater peace of mind, we have an efficient enquiry desk that offers help to track and review your LCs.
- Confirmation of Export LCs
Exporters have to inadvertently deal not only with unfamiliar foreign buyers, but also with their relatively obscure banking partners whose letter of credit may not be sufficient comfort. By seeking confirmation of your export LCs by SBI Singapore, you significantly reduce the credit risk for beneficiary and their bankers. We add our confirmation to LCs issued by branches of SBI and other Indian banks at a nominal charge.
SBI Singapore has the expertise to undertake negotiation of documents drawn under LCs at attractive prices, depending on the size of individual transactions and/or receptiveness of transactions requiring negotiation. SBI’s efficient service standards ensure that your documents are negotiated and dispatched quickly.
- Export Document Collection
SBI Singapore offers superior services in outward collection bills both under LC and those not covered under the LC.
SBI Singapore is ready to put the weight of our esteemed global reputation and credit worthiness to support your specific needs through a Banker’s Guarantee, both performance and financial. Whether you are a company bidding for a high profile contract or a student seeking assistance for securing university loans and tuition grants, SBI Singapore offers Bank Guarantee to facilitate your business and personal requirements.
- Stand-by Letter of Credit (SBLC)