Import Product & Trust Receipt

Import Products

Letter of Credit Issuance

Letter of Credit (LC) is an instrument issued by Bank Mandiri (Issuing Bank), upon request from you, as Applicant, containing the Bank’s undertaking to pay a sum of money to Beneficiary provided the Bank has received documents in compliance with LC terms.

The issuance of LC with Bank Mandiri can be done by using the facility we provide, or now there is a faster way to issue an LC by using your own fund as deposit. As the biggest bank in Indonesia, the LC that we issue will be well accepted by both your counter party and your counter party’s bank.

After filling up the LC Issuance Application, we will issue the LC which serves as our undertaking, as an international standard bank, to the Beneficiary. From that time on, we will deal with all things regarding your LC starting from document examination subject to international rule and standard banking practices, up to the settlement process. Therefore, the interests of all parties are protected.

Benefits :

  • Ensure that documents presented are in compliance with LC terms.
  • Protects the settlement process of your international transaction.
  • Improve your credibility since the LC is issued by an international standard Bank.

Sight LC

Is LC that requires payment of draft at sight.

Usance LC

Is LC that requires payment of draft payment on maturity date (deferred).

UPAS LC (Usance Payable At Sight LC)

Is LC that requires Usance payment for Buyer, but Seller can receive payment of draft at sight. We can facilitate financing for UPAS LC both through our correspondent banks or Overseas Branches.

Inward Documentary Collection

Inward Documentary Collection is an inexpensive but safe way in conducting international trade. Inward Documentary Collection is a Non LC import activity conducted through a bank (Collecting Bank) which is requested by their correspondent bank (Remiting Bank) to hand over a set of documents to importer bearing a certain payment method. Documentary Collection against Payment (D/P) and against Acceptance (D/A) are cost-effective payment means that you can offer to your Supplier. Before you decide on whether to pay (D/P) or to accept (D/A), you can come to our Trade Servicing Centers for consultation.

With more than 1000 Correspondent Banks all over the world, your Supplier will easily send his/her export documents through our correspondent bank so that you can receive your document sooner and minimize risk on demorage. The Collection process is started when your Supplier has sent the goods, prepare the necessary documents and present those documents to his/her bank. Your Supplier’s Bank (remitting bank) will then, send those documents to us (collecting/presenting bank) for your payment or acceptance.

Benefits :

  • Minimize payment risks on the Supplier side with a low cost on your side.
  • Enables you to receive the goods you imported before making payment (D/A)

Trust Receipt (TR)

TR is a deferred payment facility from the Bank under your LC obligation by submitting TR Letter. This facility enables you to defer payment to the Supplier without reducing your credibility.

This facility is part of our LC Issuance facilities. With this facility, you can defer payment of your obligation to the Bank, but can still be able to get the goods that you already ordered with the LC. You simply have to submit the TR Letter which basically contains a statement of receiving the goods on Bank’s behalf and promising to pay the Bank.

Benefits :

  • Is a short term facility with a competitive interest rate when you experiencing a mismatch in your Cash Flow.
  • Improve your credibility in your Supplier’s eyes
Import Product & Trust Receipt