UPAS L/C
BENEFITS
Cost saving.
Access to financing in foreign currencies from foreign banks.
Flexible financing sources under UPAS L/C and SCB loans.
Enhanced status of the buyers in transaction with foreign exporters. Payment is ensured by SCB and financed by foreign correspondent banks.
Free- of-charge assisstance from SCB in negotiating payment terms.
Payment deffered up to 360 days from shipment.
FEATURES
Participants: Import companies
Currency: USD & other foreign currencies
Payment deferred up to 360 days
Payment method: Pay UPAS L/C by companies’ own funds or other lawful funds at the payment maturity.
Security assets: Subject to periodic regulations of the State Bank and SCB
Beneficiaries can receive proceeds right upon presenting compliant documents.
L/C applicants receive import financing at competitive interest rates.
DOCUMENTS
Application for issuance of L/C (SCB's form).
Request for selling foreign currency (SCB's form).
Sales contract.
Company's legal documents (for first transaction).
