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Trade Services
Hong Leong Bank Trade Services with its worldwide network of agent banks has the capability to fulfill your needs to reach the global market. Our Trade Services Centres together with the Trade Business Desks located strategically nationwide are always within your easy reach.
At Hong Leong Bank Trade Services, we are your partners in fulfilling your needs whether it is to finance your trade or to expand it. We can offer advice on a wide range of trade products to assist your trade activities.
- Imports
- Exports
- Services
- Product Disclosure Sheet
EXPORTS
Letter of Credit
As an exporter, a letter of credit provides you with the assurance of receiving payment against your shipping documents which comply strictly to the terms and conditions as stipulated in the letter of credit. You must be able to comply with the terms and conditions and in particular avoid any discrepancies in your documentation. Our trade advisors will be able to help you in this aspect.
We can also have your export letters of credit confirmed. This will remove any concerns you have with letters of credits received from countries or banks you are not comfortable with as our confirmation will remove the sovereign and bank risks.
Collections
As the exporter, you will present your shipping documents to us for the collection of proceeds. We will send your shipping documents to the buyer's banker with specific instructions as to the release of the shipping documents. You will maintain control over the goods until they are paid for or until the buyer has given their undertaking or acceptance to pay at a future date.
We shall keep track of your export collection until the proceeds are received by us whereby we will credit your account promptly. In the event of non-payment, we will also inform you immediately.
Financing
We provide various financing options for your local sales and exports both pre and post-shipment at favourable rates. Each of our financing options is designed to cater for specific needs and these include:
- Bankers Acceptances
- Export Credit Refinancing - Pre-shipment and Post-shipment
- Advance Against Trade - Pre-shipment and Post-shipment
- Invoice Financing
- Onshore Foreign Currency Loan
- Foreign Bills of Exchange Purchased/Foreign Bills of Exchange Purchased (Approval to Purchase)
- Domestic Bills of Exchange Purchased/Domestic Bills of Exchange Purchased (Approval to Purchase)
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