Trade Services

Trade Services

Trade services cut-off time

Product:  Imports & Exports Letter of Credits, Collections, Guarantees & Trade Loan (IF/BA/EBP/LBP/FCTF/TR)               

Support Department:Trade Finance Operations

                                     

Services

Cut-off Time for receipt of instructions

Turnaround Time

 

Imports –

Issuance of Letter of Credit (LC)

 

 

 

 

By 3pm on T Day

 

 

By 5pm on T Day

 

 

Applications received:

By 3pm: T day by 6pm

 

By 5pm: T day by system processing window

 

After 5pm: T + 1 Day by 12noon

 

 

Inward Bills under LC

    – New

 

 

 

 

 

 

Inward Bills under LC

    – Acceptance

 

 

 

 

 

 

 

Inward Bills under LC

   – Payment

 

 

 

 

 

 

 

By 12pm on T Day

 

 

 

 

 

 

By 3pm on T Day

 

By 5pm on T Day

 

 

 

 

 

 

By 3pm on T day

 

By 5pm on T day

 

 

 

 

All documents received:

By 12pm: T day by 6pm

 

After 12pm: T + 1 day before 12pm

 

 

Acceptance instruction received:

By 3pm: T day by 6pm

 

By 5pm: T day by system processing window

 

After 5pm: T + 1 Day by 12noon

 

 

Payment Instruction received:

By 3pm: T day by 6pm

 

By 5pm: T day by system processing window provided FX rate has been contracted

 

After 5pm: T + 1 day  by 12noon

 

 

Inward Collections

    –  New

 

 

 

 

 

 

 

 

Inward Collections

    –  Acceptance

 

 

 

 

 

 

 

Inward Collections

    –  Payments

 

 

 

 

 

 

 

By 3pm on T Day

 

 By 5pm on T Day

 

 

 

 

 

 

By 3pm on T Day

 

By 5pm on T Day

 

 

 

 

 

 

By 5pm on T Day

 

 

 

 

All documents received:

By 3pm: Within the T day  by 6pm

 

By 5pm: Within the T day by system processing window

 

After  5pm: T + 1 day by 12noon

 

 

Acceptance instruction received:

By 3pm: T day by 6pm

 

By 5pm: T day by system processing window

 

After 5pm: T + 1 Day by 12noon

 

 

Instructions received:

By 5pm: Within the T day by system processing window provided FX rate has been contracted

 

After 5pm: T + 1 day  by 12noon

 

 

Exports –

Advising/Confirming/     Transfer of Export LCs

 

 

 

 

 

 

 

 

 

 

 

 

 

By 4pm on T Day

 

 

 

 

 

By 4pm on T Day

 

 

 

 

 

 

 

 

By 4pm on T Day

 

 

All  inward LCs received:

By 4pm: within T day by 6pm

 

After  4pm: T + 1 day by 12noon

 

 

Confirmation request received:

By 4pm: within T day by 6pm provided issuing bank limit is available

 

After 4pm: T + 1 day by 12 noon provided issuing bank limit is available

 

Transfer request received:

By 4pm:  Within T day  by 6pm

 

After 4 pm: T + 1 day  by 12noon

 

 

Export Collection under LC

-    Documents Examination

 

 

 

 

 

 

 

 

 

Export Collection under LC

  1. Creation

(for Clean Documents and Documents not require document checking)

 

 

 

 

 

 

 

 

 

 

Export Collection under LC

  1. Payment

 

 

 

 

 

 

 

By 3pm on T Day

 

 

By 4pm on T Day

 

 

 

 

 

 

 

By 3pm on T Day

 

 

 

 

 

By 4pm on T Day

 

 

 

 

 

 

 By 10am on T Day

 

 

By 5pm on T Day

 

 

Documents received:

By 3pm

  1. Within T day by 5pm

 

By 4pm

  1. Within T day by 6pm

 

After 4pm

       -       T + 1 day by 12noon

 

 

Documents received:

By 3pm

       -       Within T day for courier same day uplift pick up time (range from 5:30pm to 6:30pm by branch)

 

By 4pm

       -       Within T day by system processing window

 

After 4pm

        -       T + 1 day by 4pm

 

Proceeds/Funds received:

By 10am: Within T day by 12noon

 

By 5pm: Within T day by system processing window

 

After 5pm:T + 1 day by 12noon

 

 

Export Bills Purchase

-    Documents Examination

 

 

 

 

 

 

 

Export Bills Purchase

  1. Creation

 

 

 

 

 

 

 

 

 

 

  1. Settlement

 

 

 

 

 

 

By 3pm on T Day

 

By 4pm on T Day

 

 

 

 

 

By 3pm on T Day

 

 

 

 

By 4pm on T Day

 

 

 

 

 

 

By 5pm on T Day

 

 

Documents received:

By 3pm: Within T day by 5pm

 

By 4pm: Within T day by 6pm

 

After 4pm: T + 1 day by 12noon

 

 

Documents received:

By 3pm: Within T day for courier same day uplift pick up time (range from 5:30pm to 6:30pm by branch)

 

By 4pm: Within T day by system processing window

 

After 4pm: T + 1 day by 12noon

 

 

Funds/Proceeds received:

By 5pm: Within T day by system processing window

 

After 5pm: T+1 day by 12noon

 

Export

Documentary Collections    

    - Creation

 

 

 

 

 

 

 

 

 

Export Documentary Collections

    - Payment

 

 

 

 

 

By 3pm on T Day

 

 

 

 

By 4pm on T Day

 

 

 

 

 

By 10am on T Day

 

By 5pm on T Day

 

 

 

 

Documents received:

By 3pm:Within T day for courier same day uplift pick up time (range from 5:30pm to 6:30pm by branch)

 

By 4pm:Within T day by system processing window

 

After 4pm:T + 1 day by 4pm

 

Proceeds received:

By 10am: Within T day by 12noon

 

By 5pm: Within T day by system processing window

 

After 5pm:T + 1 day by 12noon

 

 

Shipping

Guarantees (SGs)

- New

 

 

 

Shipping

Guarantees (SGs)

- Cancellation

 

 

 

 

 

By 2pm on T Day

 

 

 

 

 

By 2pm on T Day

 

 

Application received:

By 2pm: Within T day by 4pm

 

After 2pm: T + 1 day by 12noon

 

 

Application received:

By 2pm: Within T day by 4pm

 

After 2pm: T + 1 day by 12noon

 

 

Air Waybill / Bill of Lading Endorsement

 

 

 

By 5pm on T Day

 

 

 

 

Request received:

By 5pm: Within 1 hour from receipt of request at counter

 

 

Banker’s Guarantees (BGs) & Standby Letters of Credit (SBLCs)

- New / Amendment

 

 

 

 

 

 

 

Banker’s Guarantees (BGs) & Standby Letters of Credit (SBLCs)

- Cancellation

 

 

 

 

 

By 3pm on T Day

 

 

 

 

By 5pm on T Day

 

 

 

 

By 5pm on T Day

 

 

Standard format banker’s Guarantees applications received:

By 3pm: Within T day by 6pm

 

By 5pm: Within T day by system processing window

 

After 5pm: T + 1 day by 12 noon

 

 

 

 

By 5pm:T + 1 day by 12 noon

 

After 5pm: T + 1 day by system processing window

 

 

All Trade Loans: including Invoice Financing/ Banker’s Acceptance / Trust Receipts/Foreign Currency Trade Finance (FCTF)

– Creation

 

 

 

 

 

 











- Settlement or Extension

 

 

 

 

 

By 3pm on T Day

 

 

 

 

 

 

 

 











By 3pm on T Day

 

 

 

 

 

 

 

Applications received:

By 3pm: Within T Day by 6pm

 

After 3pm:

T day by system processing window on best effort basis latest by 12noon on T+ 1Day

For applications with 50 or less supporting documents by 3pm :

  • Same day per existing turnaround time

For applications with more than 50 supporting documents by 3pm:

  • T + 1 Day

*Or T day, on best effort basis.

 

Instructions received:

By 3pm: Within T Day by 6pm

 

After 3pm:

T day by system processing window on best effort basis latest by 12noon on T+ 1Day

 

Incoming communication from counter party bank, e.g. tracer, rebuttal, correspondence,  acceptance, refusal 

 

 

By 3pm on T Day

 

By 3pm: T day by system processing window

 

After 3pm: T + 1 day by system processing window

 

Remarks: T Day is transaction day

Terms and Conditions:

  • All RENTAS related transactions must be received by the Bank by 12noon.  The turnaround time for such transactions is by 3pm on the same day.