Documentary
Credits (Import and Domestic LC Opening)
A
trade facility which accommodates payments
for importation and/or local sourcing
of raw materials, intermediate inputs
and finished goods
Features:
- Availability:
In US Dollar, Php Peso or other currency/ies
-
Purpose: Accommodate payment of local
enterprises to foreign and domestic
suppliers
-
Term: Sight or Usance
Trust
Receipt Loans
A
short-term credit facility that allows
the local enterprise to obtain possession
of merchandise for resale or production
in exchange for the promise to hold the
merchandise received in the name of the
Bank (the Bank retains the legal title
to the merchandise). The borrower is then
obligated to pay the Bank for the proceeds
of the sale.
Features:
- Availability:
Purchase of US Dollar Denominated /
Php peso /other currencies Sight/Usance
-
Purpose: Advance payment of goods shipped
-
Term: Thirty (30) to maximum of One
Hundred Eighty (180) days
-
Interest Rate: Based on the Bank’s
prevailing interest rate
Export
Packaging Credit/Export Advance Loans
(PhPeso or US Dollar)
A
short term credit facility that supports
pre-shipment requirements of an exporter.
Features:
- Availability:
via Php Peso / US $ denominated Promissory
Notes
-
Term: up to expiration of Export Letters
of Credit (LC) or latest delivery date
of the Export Purchase Order (PO) or
Sales Contract (SC)
-
Loan Valuation: 70% (maximum) of the
face value of the Export LC /PO/SC
-
Interest Rate: Based on the Bank’s
prevailing interest rate
-
Purpose: To finance purchase of local
raw materials; payment for labor and
overhead
Pre-
Shipment Financing