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 LIBOR linked rates, under Letter of Undertaking of branches of SBI and other major Indian public and private sector banks.
SBI Singapore offers credit facility in form of Trust Receipts to its customers to enable them to take delivery of the goods prior to payment. This enables you to free up your funds for more pressing business needs. We offer flexible payment facility to match with your financial cash flow and business cycle. However, this facility is available to companies having credit limits with SBI Singapore.
SBI Singapore provides Invoice Financing wherein you as a borrower are able to pay to your supplier an advance against pro-forma invoice.
SBI Singapore works in close cooperation with our valued clients to structure the complete trade flow in relation to the specific freight financing needs.
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.
Transferable LCs allows the customer to transfer in whole or in part the rights and obligations under the LC to a third party. SBI Singapore issues Transferrable LCs after carefully evaluating the beneficiary and second beneficiary's reputation and ability to perform the shipment and the terms of transfer.
- Export Document Collection
SBI Singapore offers superior services in outward collection bills both under LC and those not covered under the LC.
Bank GuaranteesSBI 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)
SBI Singapore issues SBLC against 100% cash margins for you to enjoy extension of credit lines.