LC

L/C products of Bank Sumsel Babel:

ADVISING LETTER OF CREDIT

Terms & conditions:

• Seller and buyer sign sales contract
• Submit an application for opening an LC with a tenor: atSight/Usance/DeferredPayment/UPAS to the Issuing Bank.
• Issuing Bank issues LC and mentions Advice Through Bank Sumsel Babel JKT/KAP/PangkalPinang/TanjungPandan
• Bank Sumsel Babel submits the original LC at Sight/Usance/DeferredPayment/UPAS to the Beneficiary (Seller/Exporter)

Export LC Negotiation 

Terms & Conditions:

• Seller and buyer sign sales contract with tenor of payment is at Sight
• LC at Sight opening application is submitted to Issuing Bank
• Issuing Bank issues LC at Sight and accepted by Bank Sumsel Babel (Negotiating Bank)
• Bank Sumsel Babel submits original LC at Sight to Beneficiary (Seller/Exporter)
• Beneficiary (seller/Exporter) ships the goods in accordance with the terms and conditions contained in the LC to Importer
• Beneficiary (Seller/Exporter) presents export documents to Bank Sumsel Babel
• Bank Sumsel Babel Credits Debtor's Account, if the documents are clean or after acceptance from Issuing Bank if the documents are under discrepancies
• Bank Sumsel Babel sends export documents with Schedule of Remittance and instructs Issuing Bank to remit export proceeds to the designated Bank Sumsel Babel Account.

Confirmation LC :

Terms & Conditions:

• Seller and buyer sign sales contract
• Issuing Bank issues LC and advises it through Bank Sumsel Babel, and asks Bank Sumsel Babel to confirm the LC.
• Bank Sumsel Babel conveys the original LC to the Beneficiary (Seller/Exporter) with a cover letter.

and various other LC products including:

• Transfer LC
• Back to Back LC
• Pre Export Financing

Import LC consists of:

• LC Issuance
• Red Clause LC
• Issuance of LC-UPAS