Thursday, 21 November 2019, 24 Rabiulawal 1441H Solat Time:

Letter of Credit Transfer-i (LCT-i)

Should you need someone else to supply the goods required, you may ask for a transferable LC from the applicant. Upon receiving the ILC the said ILC can be transferred to another beneficiary either for full or partial amount of the original ILC-i value. By doing so, you are still capable to meet the terms and conditions of the ILC-i and, at the same time, maintain the relationship with the importer.

This service is provided under the concept of Ujrah which refers to the fees charged for the services.

Benefits of using our services:

  • You don’t have to have a Trade Facility line with the Bank to enjoy the LCT-i services

  • By establishing the LCT-i, you don’t have to worry about the payment to the second beneficiaries as you can pay them upon receiving of payment from the ultimate buyer

  • Most of the documents required under the ILC-i will be prepared by the second beneficiaries and you as the first beneficiary will only have to prepare the draft (if required), commercial invoice and the shipping document e.g. Bill of Lading

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