Secure Financial Solutions

Letter of Credit

We provide international standards such as UCP600 and INCOTERMS 2020 to streamline your trade processes and mitigate global import and export risks.

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    "By providing my consent, I allow bank staff to contact me regarding the information I have inquired about above."

    Benefits

    Ensure secure cross-border payments for importers and exporters.

    Compliance with global trade standards (UCP600, Incoterms 2020).

    Mitigates supplier risk with confirmed and transferable LC options.

    Flexible credit and collateral structure.

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    Terms & Conditions
    Type of Import LC
    Irrevocable / Transferable / Confirmed / Back-to-Back
    Currency
    USD
    Credit Line Tenor
    12 months and subject to annual review
    Payment Term
    At sight / Usance
    Issuing Fee
    Under Cash Secured: 1% p.a. (Min USD 50.00)
    Under Property Secured: 1.25% p.a. (Min USD 100.00)
    Approval Fee
    USD 100.00 (cash secured)
    1% (Min USD 150.00) under property secured
    Usance Fee
    1% p.a. (Min USD 25.00) – cash secured
    1.25% p.a. (Min USD 50.00) – property secured
    Settlement Fee
    0.1% (Min USD 25.00)
    Reimbursement Fee
    USD 30.00
    Amendment Fee
    USD 50.00
    Discrepancy Fee
    USD 50.00
    Cancellation Fee
    USD 50.00
    Advising Fee
    USD 50.00

    Getting Started is Easy!

    Visit your nearest iBank branch and consult with our Relationship Manager for guidance.

    Present the required documents, including the National ID or Passport and the supporting Documents.

    Trade Globally, Trade Securely!

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    Get in Touch

      Need help? Fill out the form below:





      "By providing my consent, I allow bank staff to contact me regarding the information I have inquired about above."

      Still have questions? Contact us now

      Hotline

      +855 23 901 338
      Email
      [email protected]

      iBank Branch

      Check for our nearest branch

      Frequently Asked Questions

      What types of LCs does iBank issue?

      Irrevocable, Transferable, Confirmed, and Back-to-Back Letters of Credit.

      What is the payment term?

      LC can be At Sight or Usance.

      What is the typical tenor for an LC credit line?

      12 months, subject to annual review.

      What are the main fees involved?

      Issuing fee, approval fee, usance fee, and additional charges such as amendment or discrepancy fees.

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