Documentary Credit
Documentary Credit is a unilateral contract that is issued by ACLEDA Bank Plc referring to the request's importer (buyer) to ensure the price's goods settlement to the exporter (seller) accurately if he/she can perform the conditional contract in Documentary Credit, and this ensuring is made through the bank of buyer or seller. Documentary Credit has two types:
Documentary Credit (Import)
Documentary Credit (Import) is a type of services that ACLEDA Bank Plc issues document on behalf of the buyer to guarantee the seller for accuracy payment to the seller if he performs the condition of contract in Documentary Credit.
Documentary Credit (Export)
Documentary Credit (Export) is another type of services that ACLEDA Bank Plc advices, confirms, or negotiates on Documentary Credit (L/C) issued by the buyer's bank. In this case, ACLEDA Bank Plc has roles to check the authenticity of Documentary Credit by referring to the sale contract.
Fee Charges
| Description | Rate | Other fees |
|---|---|---|
| Documentary Credit (Imports) | ||
| Issuance of LC | 0.15% p.m. min. 2-mth. but not less than $50 | +Cable charge $50 |
| Amendment of LC: Increase in credit value | 0.15% p.m. or part thereof, min.$25 | +Cable charge $20 |
| Extend validity | 0.25% p.m. or part thereof, min.$25 | +Cable charge $20 |
| Change of terms not affecting validity or amount | $25 flat | +Cable charge $20 |
| Cancellation of LC charges | $30 flat | +Cable charge $20 |
| Import LC bill handling charge | 0.125%, min.$30 | |
| Acceptance commission (Usance Bill) | 0.15% p.m. or part thereof, min.$50 | +Cable charge $20 |
| Reimbursing fee | $65 flat | +Outward Overseas transfer fee. Normally deduct from beneficiary's account |
| Discrepancy fee | $50 flat | Normally deduct from beneficiary's account |
| Documentary Credit (Exports) | ||
| Pre-advise | $10 flat | |
| Advise Documentary Credit | $30 flat | |
| Advise amendment | $30 flat | |
| Confirmation | 0.35% p.m. | Subject to arrangement |
| Transfer LC: Full 100% transfer | 0.125%, min.$50 | |
| Partial transfer | 0.25%, min.$100 | |
| Export LC bill handling charge | 0.25%, min.$100 | +DHL courier charge |
| Acceptance commission | 0.125% p.m., min.$50 | Indicative only |
| Negotiation | 0.25% | |
| Discount | 1.2% - 1.5% p.m. | For discount period up to 90 days |
