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Singapore@bankofbaroda.com

Import

Issuance of Letter Of Credit

We will issue the Letter of Credit on your behalf against your sanctioned limits with us. Margin or other collateral, will be as per the terms of sanction.

Upon receipt of documents drawn in compliance with the terms and conditions of the Letter of Credit, payment will be effected by us to the debit of your account.

Import Documentary Collection

These are import collection documents sent by the Exporter's bank to us with a request to collect payment / present for acceptance, from you. Acting as a Collecting Bank we will present and collect payment from you and remit the proceeds to the Exporter's bank promptly.

You are welcome to arrange with your exporter to present the documents through our Bank for onward presentation to you as an importer.

Trust Receipts

Trust Receipt facility enables you to take delivery of the goods prior to payment. As security, the goods covered under the Trust Receipt is hypothecated with us, and you undertake to hold the documents / goods and/or the sale proceeds in trust for the bank. The facility is extended by way of loan repayable after a specific period.

Shipping Guarantee

Shipping Guarantee enables you to take delivery of the goods before the receipt of the bill of lading. It is an indemnity that the bank executes jointly and severally with you in favour of the shipping company.