Long distance trading can be a risky business. But with Maybank, you can reduce or eliminate the risk and develop trusting relationships with your foreign trading partners. Simply choose the most suitable trade financial instrument to meet your needs.
Letter Of Credit
Maybank's LC is a major payment method in international trade because it benefits both parties in the transaction. As the buyer, you don't have to pay until the documents are received in good order. Your seller is also comfortable because they will definitely be paid if they have complied with the terms of the LC. You'll enjoy
- Trust, because payment will only be made if
- All stipulated documents are received in good order
- All the terms and conditions of the LC are complied with
- Financing, which can be arranged for bills under LC
- Reduced risk for both commercial and foreign exchange
This is also available as a Shariah-compliant Letter of Credit-i.
Take delivery of your imports before paying for them. You can then use the proceeds from the sale of your goods to pay the trust receipt. This offers you
- Increased control over payment timing
- Improved cashflow
This is also available as a Shariah-compliant Trust Receipt-i.
Maybank can finance your purchase/import invoices which may not be LC or collection based. This way, you will benefit from
- Easy financing, even though bills are neither LC nor collection based
- Privacy, as the arrangement is between you and Maybank, and will not be disclosed to the seller
This is also available as a Shariah-compliant Invoice Financing-i.
Inward (Import) Collection Bills
This payment method gives you flexibility at the negotiation table as you discuss and agree on the payment terms directly with your supplier. Maybank will then work closely with your supplier's bank and also act as your representative in the transaction.
Additionally, if you are financing your purchase through a trust receipt, you can enjoy an extended period before paying for the imported goods. This ensures
- Uncomplicated and inexpensive transactions
- Pro-buyer situation as you defer the payment until the goods arrive, or even later if delayed payment arrangements have been agreed upon
With import financing made friendly and convenient, your company can expand steadily, because Maybank is with you every step of the way.
This is also available as a Shariah-compliant Inward (Import) Collection Bills-i.
Through the use of Maybank's Guarantee and Standby Letter of Credit, you may conduct your business with great confidence. The assurance from us will give you a better competitive edge to negotiate for more favorable terms with your counterparty as we guarantee to honor payment to the beneficiary in the event of any contractual obligations failure.
If your original transport documents are not yet available, Maybank can issue shipping guarantees to your shipping and forwarding companies to release your goods first. This is particularly useful for imported perishable goods. With timely delivery, you can
- Reduce or minimise loss due to delays in the clearance of goods
- Avoid unnecessary expenses like storage and warehousing charges
This is also available as a Shariah-compliant Shipping Guarantee-i.
You may send us any communications or instructions for Trade Services by mail, courier or fax; or electronic transmissions via our Electronic Banking Service or SWIFT; or scanned documents via email. Please refer to our Standard Terms and Singapore Supplement for further details.