ARE YOU TRADING WITH INDIA?
OR
PLANNING TO TRADE WITH INDIA?
Here is a top
Indian Nationalised bank, having presence in your country,
to provide service at your doorsteps, ready to supplement
your trading needs. We, at India, are catering to some of
top corporates of the country. We are also proud to be bankers
to many of best managed Public Sector undertakings of Govt.
of India.
We are having presence in US for the last
two decades serving the trading partners of India in US. Our
main area is trade finance. If you are an exporter to India,
doing business either under letters of credit or outside letters
of credit, we can minimize your political and country risk.
And if you are importer to India, we can not only help you
in business transactions but we can advise you on matters
where no other bank can. We, due to very long and large presence
in India can guide you more than any one else can.
Here are the highlights of our services:
Advising of letters
of credit including confirmation of LCs
Negotiating drafts under LCs advised by
us or others.
Discountig of Drafts under LCs or outside
LCs**
Opening of LCs and Stand By Letters of Credit
Advisory Services.
( Subject to UCPDC 500 (1993 revision) and
URC 522)
**
Highlights of Discounting of Drafts under
LCs or outside LCs
Under a letter of credit
Deferred Payment Financing
Outside the letter of credit
Accepted Drafts
Deferred Payment Financing
Our bank advises, confirms
and refinances the letters of credit issued by the buyer's
bank. If the terms of the letter of credit call for payment
deferred to a future date, the exporter may get the draft
discounted with us subject to strict compliance of document
acceptance of documents and get paid on sight/immediately.
The risk of buyer's bank for making payment on the due date
in future is borne by us.
BENEFITS
Protects the exporter against the risk of default
by the foreign buyer or its bank due to commercial or political
reasons.
COSTS
Fees associated with advising,
confirming and negotiating a letter of credit (payable as
per terms of letter of credit)
Discount Payable to the Bank by the exporter or importer
as agreed upon.
ACCEPTED DRAFTS.
Description
Exporter ships the goods under
a time draft drawn on the importer.Upon receipt of documents,
the drawee (importer) accepts the draft. Importer's bank then
notifies the commercial lender of its acceptance,confirming
the amount and maturity date of the draft. Upon notification,
the lender pays the exporter.
Benefit
Protection for exporter against the
risk of default by the foreign buyer for commercial or political
reasons
Deferred payment facility to the foreign buyer
Immediate payment to the exporter
Least hassles in documentation and lower fees than selling
under letter of credit.
