AsiaTrust Import Letter of Credit / Trust Receipt
Program Title: Import Letter of Credit / Trust Receipt
Program Objective: This facility is offered to clients who are engaged in the importation of raw materials or products for manufacturing, wholesale or retail trading.
Eligible Borrowers:
Single Proprietorship
- Partnership
- Corporation
- Businessmen/Entrepreneurs
Loan Purpose: For domestic purchase of raw materials. Terms/Requirements:
Amount: Depends on the actual requirement.
Interest Rate: Prevailing market rates upon Trust Receipt date.
Availment: Via Trust Receipts for 90 days, renewable for another 90 days, subject to 25% partial payment on principal and subject to inspection if goods under TR are still present.
Charges:
- Opening Commission of 1/4 of 1% for the first 60 days and 1/8 of 1 % every month, thereafter, and
- All other charges relative to the LC opening for the account of the borrower.
Maturity / Repayment: One year from date of approval.
Security:
- Trust Receipts on goods purchased via LC;
- Marginal Deposit of 20%;
- Postdated Checks (PDCs) of the borrower; and
- Continuing Suretyship of the Principals.
Asiatrust Development Bank is also accredited in the various special lending programs of government:
Development Bank of the Philippines
- Industrial & Support Services Expansion Program
- Industrial Guarantee Loan Fund
- Japan Export Import
Land Bank of the Philippines
- Countryside Loan Fund 1 & 2
- Countryside Loan Fund 3
- Agricultural Loan Fund
Social Security System
- Kabalikat sa Pagpapaunlad ng Industriya (KASAPI)
- SSS Tourism Project
- SSS Power Generation Programs
- SSS School Financing Program
- SSS Hospital Financing Program
- SSS Special Financing Program
Contact Details:
Ms. Cindy C. Viola, Branch Credit Group
AsiaTrust Development Bank
1424 Quezon Avenue, Quezon City
Phone: (02) 924-5680/5650
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