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 & Features
Benefits of using our products:
- 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
Cut-off time
Application received by 1:00pm* will be processed on the same day.
* Subject to all terms and conditions complied with
Fees & Charges
Subject |
Charges |
Rate / Amount |
|---|---|---|
| 1. As per transaction | Commission /Transfer fee |
Local: 0.1% of Inward Letter of Credit (ILC) value Min : RM250.00 Foreign: 0.1% of ILC value Min: RM250.00 All ILC from any Arab and Indian Continents shall be charged a minimum of RM 300. Max: RM500 |
| 2. Foreign/ Local LC: | ||
| Issuance | SWIFT MT720 |
Malaysia (Local): RM60.00 Outside (Foreign): RM60.00 |
| Amendment | SWIFT MT799 |
Malaysia (Local): RM50.00 Outside (Foreign): RM50.00 |
| Local LC Transfer | Postage | Actual direct cost incurred |
| Courier | Actual direct cost incurred | |
| Foreign LC Transfer | Courier | Actual direct cost incurred |
| 3. Letter of Instruction Transfer (BB36) | Stamp duty | RM10.00 |
| 4. Others | ||
| Fax | Out of pocket expenses | Actual direct cost Incurred |
| Photocopy | Out of pocket expenses | Actual direct cost Incurred |
| Other direct cost | Out of pocket expenses | Actual direct cost Incurred |
| 5. Others Charges | SWIFT |
Malaysia (Local): RM25.00 |
Product Disclosure Sheet (PDS)
Click here to download PDS for Letter of Credit Transfer-i (LCT-i)
Click here to download PDS for Letter of Credit Transfer-i (LCT-i) – Malay Version
Forms
Click here to download the form for LC Transer entirety (BB35 LC)
Click here to download the form for LC Transfer partial (BB36 LC)
