Letter of Credit / SKBDN

Issued

    • is payment instrument Issued by Bank Jatim, for Domestic & International Trade transactions.
    • is irrevocable and constitutes a definite undertaking to pay only againts presentation of complying documents.
  • Features
    • Provides payment assurance to seller
    • Provides goods and/or delivery securement for buyer
    • Documents checking
    • Pay only againts complying documents
    • Issued by authenticated SWIFT message)
  • Benefit
    • Increase the credibility of customers buyer, as well as to secure their needs for trade transaction in documents matters
    • LC/SKBDN terms can be adjusted to both buyer's and seller's need
    • Assistance and Advisory Services from the International Trade Expert
    • Bank Jatim provide import line facility (pre import financing) and import working loan capital (post import financing) to facilitate Customer's need with competitive interest.
    • Bank Jatim offers a competitive exchange rate to value foreign exchange (min ekuiv USD 2000, may request special rate)
  • Term & Condition
    • Customer of Bank Jatim
    • Provide collateral for LC / SKBDN Issuance in the form of a Current/Term Deposit Account/Import Facilities in the name of Customer
    • Complete application affixed with sufficient stamp duty, signed by an authorized signatory.
    • Business Identification Number (NIB) indicated import permit or any acceptable import permit documents acknowledged by regulator (for LC transaction)
    • Customer must not be listed on the National Blacklist of Check Withdrawers and/or Blank Promissory Notes (DHN) in the Financial Services Authority (OJK)'s Financial Information Service System (SLIK) except Cash Collateral provided.
    • Not relate to any entities or countries listed on sanction (for LC transaction)
    • Must have a contract/purchase order with the counterparty.
    • Letter of Credit and SKBDN is subject to applicable rules and Bank Jatim's internal policy
  • Steps
    • Submit an LC / SKBDN application to Bank Jatim
    • Bank Jatim issues LC / SKBDN to the seller's Bank via authenticated SWIFT message
    • Seller received an LC / SKBDN from their bank
    • Seller ships out goods and submits trade documents to their bank, then later, send the documents to Bank Jatim.
    • Bank Jatim will notify the buyer when trade documents has been received from seller's bank and checked
    • Bank Jatim will sent the status of the trade documents (comply/discrep) to the buyer
    • Under compliance documents, Bank Jatim will pay to the seller then give the trade documents to the buyer for goods clearance
    • Under the discrepancies documents, buyer may accept the bill and give payment instruction to Bank Jatim or otherwise reject. When accept and pay, buyer may collect trade documents to retrieve the goods

Advise

  • is a payment instrument received by Bank Jatim, for Domestic & International Trade transaction.
  • is issued by Buyer's Bank, that is irrevocable, constitutes a definite undertaking to pay againts presentation of complying documents
  • Features
    • Payment risk security
    • Authenticity verification
    • Pre-Checking documents
    • Letter of Credit / SKBDN discounting
  • Benefit
    • Ease of obtaining Pra Shipment / Post Shipment Financing at Bank Jatim
    • Increase the payment security for seller with Payment Undertaking received from Issuing Bank
    • Pre Checking documents services minimizes the possibility of discrepancy and being unpaid from the Issuing Bank
    • Possible to get Export Bill Purchasing Facility so Seller can manage cash flow better
    • Assistance and Advisory Services from the International Trade Expert
    • Bank Jatim offers a competitive exchange rate to value foreign exchange (min ekuiv USD 2000, may request special rate)
  • Term & Condition
    • Customer of Bank Jatim
    • Business Identification Number (NIB), indicated export permit or any acceptable export permit documents acknowledged by regulator (for LC transaction)
    • Not relates to any entities or countries listed on sanction
    • Submitted a complete and accurate transaction application (according to the bank's standards), affixed with sufficient stamp duty, signed by an authorized signatory.
    • Letter of Credit and SKBDN is subject to applicable rules and Bank Jatim's internal policy
  • Steps
    • Request for LC / SKBDN from Buyer
    • Buyer's applies for LC / SKBDN through their bank
    • Buyer's bank sends LC / SKBDN to Bank Jatim
    • Bank Jatim verifies authenticity of LC / SKBDN and notify the seller of the incoming LC / SKBDN
    • Seller ship the goods and submit trade documents to Bank Jatim
    • Bank Jatim checks and presents trade documents to buyer's bank
    • Buyer's bank receives and checks the trade documents
    • Buyer's bank accept the trade documents and sends payment to Bank jatim
    • Under compliance documents seller's may request for financing in advance to Bank Jatim

For terms, conditions / further information about our products, please contact Info Bank Jatim 14044 or come directly to the Bank Jatim Branch Office.