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
May 14th, 2009 at 12:00 pm
I would like to know how to go about opening an import L/C for electric generating sets.
Also, I would like to see a Trust Receipt Form. I am sending on
consignment some equipment and would like them covered with Trust
Receipt.
Thank you.
May 14th, 2009 at 1:07 pm
Dear Mars E. Ochoa,
Hello,
If you are ever in need of financial assistance for your business (i.e., working capital, additional capitalization, purchase of equipment, purchase of property or take out existing loan with other banks) please do consider our bank, The Bank of Florida, Inc. We have a wide range of financial facility you can choose from. You can avail a loan for as low as P50t to as much as 10M with flexible payment and diminishing interest.
Please feel free to call 8450835/34/32. We will be glad to help you.
May 20th, 2009 at 8:00 pm
Dear Viewers
Unisource Knowledge Management Presents
One-Day Work Shop On
Letter of Credit Mechanism
With focus on UCP 600
23.05.2009 (Saturday)
Register through our website: Unisourceknowledgemanagement.com
Exporters, Importers, Bankers, Lawyers and transport professionals are just some of the people that will need to be aware of the International Chamber of Commerce’s UCP 600 (Uniform Customs Practices), designed to facilitate the financing and movement of goods across the borders.
Pls contact Preethi Rao at 00919900995633 if interested to attend this programme.
Jul 4th, 2009 at 8:51 pm
hi,
just read this site and im intrested to know the procedure for availment of L/C. My company is engage in trading and importing materials from other country.
I need professional openion on how to maximize my importing bisiness. My contact no. 0920-981-0188 or office 032-273-5441
Thanks
Sep 5th, 2009 at 5:46 am
I would like to know how to open import L/C for Soy Beans food grade non-GMO.
Sep 29th, 2009 at 5:30 am
Dear Sir,
I manage a firm of chartered accountants based in Nigeria with clients in different sectors who are interested in obtaining international trade import and project loans because of the advantages over the domestic loans.
Please communicate to us if you will be willing to finance Imports from Asia and U.S into Nigeria as well as your terms for accepting trade and project finance proposals from brokers.
In case you cannot assist, kindly provide us any financing sources that can assist us.
Regards
Olusola Makanjuola
Managing Partner
Olusola Makanjuola & Company
(Chartered Accountants)
Lagos, Nigeria
234+8034659001
E-MAIL; makanjusola@yahoo.com