Letter of Credit (L/C) iB and Surat Kredit Berdokumen Dalam Negeri (SKBDN) iB
L/C iB or SKBDN iB is a payment instrument that provide security to both the seller (exporter) and the buyer (importer). The L/C iB or SKBDN iB facility provides a guarantee that payment will be made if the terms and conditions in the L/C iB or SKBDN iB for imported goods are met.
Both L/C iB and SKBDN iB utilizes Shariah contract of Kafalah bil Ujrah.
The Difference Between LC iB and SKBDN iB
L/C iB transactions are used for international trade (refer to the International Chamber of Commerce - Uniform Customs and Practice for Documentary Credit (UCP) while SKBDN iB transactions are used for domestic trade (refer to the Central Bank of Indonesia’s Regulations).
L/C iB atau SKBDN iB - Usance Payable at Sight (UPAS)
Financing facility by the Financing Bank to the importer (applicant) of the L/C iB / SKBDN iB with a deferred tenor (usance) issued by Maybank Indonesia whereby the importer (applicant) may settle the L/C iB / SKBDN iB when the payment date is due, whereas beneficiary of L/C iB / SKBDN iB may receive payment at sight from Financing Bank.
L/C iB atau SKBDN iB - Usance Payable at Usance (UPAU)
Is a financing facility by the Financing Bank to the importer (applicant) of the L/C iB or SKBDN iB with a deferred tenor (usance) issued by Maybank Indonesia whereby the importer (applicant) may settle the L/C iB / SKBDN iB at the time when the notes are due, whereas beneficiary from L/C iB / SKBDN iB may receive payment at a later date (usance) with a shorter tenor than the L/C iB / SKBDN iB from Financing Bank.
Advantage of subscribing to L/C iB or SKBDN iB with Maybank Indonesia
- Utilizes a Shariah contract of Kafalah bil Ujrah.
- Maybank Indonesia is one of the largest banks in Indonesia with an extensive of domestic, regional and international network.
- L/C iB or SKBDN iB opening facilities can be combined with financing in the context of import / purchase tailored to your trade cycle needs. This is given by Maybank as a business solution to help develop your business.
- Through the TradeConnex system your trade transactions can be performed quickly and economically.
- The importer (applicant) may immediately claim the goods from the port to carry out the production process, while the payment obligation of the L/C iB or SKBDN iB will be made at the due date of the draft / document.
- Maybank provides a comprehensive Shariah trade finance solutions including the provision of Shariah Hedging transactions.
Trust Receipt (T/R) iB
Trust Receipt (T / R) iB is a short-term financing provided to importer for purchases of imported goods made using L/C iB or SKBDN iB issued by the Issuing Bank. Tenor of the T/R iB financing will be adjusted to your company's trade cycle to help smooth the company's cash flow.
The Shariah contracts used under T/R iB are Mudharabah, Musyarakah, Kafalah bil ujrah or any other Shariah contracts that are appropriate.
Benefits of T/R iB
- It is a solution provided by Maybank to customers (importer) to manage the company's cash flow adjusted to the trade cycle.
- With T/R iB, the customer may immediately claim the goods from the port and carry out the production process, while the settlement of the T/R iB obligation will be performed when the T/R iB tenor is due after receiving payment from the sale of goods produced by the customer.
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