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Trade Advance

Trade Advance is a credit facility that provides funding to customers, before and after the delivery of goods, denominated in USD or other foreign currencies based on underlying trade finance transactions with 180 days financing tenure.

Purposes:

  • To improve import and export working capital, which will have a positive impact to the development of production and sales of goods.
  • Structure of Financing will be provided based on customer needs and its trade cycle:
    1. From raw material production process until the stage of the sale by the purchaser, or
    2. From the receiving process of finished goods that are purchased until the goods are sold to end buyer.
Underlying transaction for Trade Advance
  • Export
    1. Irrevocable Import Documentary Letter of Credit / IDLC (Sight or Usance) subject to UCPDC 600 and its amendments
    2. Trade Documents under Irrevocable Documentary Domestic Letter of Credit / DDLC or SKBDN (Sight or Usance) subject to PBI No.5/6/PBI/2003 and its amendments
    3. Sales Contract or Purchase Order (P/O)
  • Import/Local
    Trade Documents under Open Account transactions based on the Purchase Order (P / O) or Sales Contract with the following criteria:
    1. Customers have at least 3 years experience and with a good track record with suppliers
    2. The goods must be on the cover with the insurance
    3. Goods imported in accordance with that set by the government (prohibited or other) and must be easy to sell back to the market
  • Trade Documents under Irrevocable Import Documentary Letter of Credit / IDLC (Sight or Usance) subject to UCPDC 600 and its amendments.
  • Trade Documents under Irrevocable Documentary Domestic Letter of Credit / DDLC or SKBDN (Sight or Usance) subject to PBI No.5/6/PBI/2003 and its amendments.
  • Trade Documents under Documentary Collection subject to URC No.522 and its amendments.
 
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