Import Services
KBZ is your partner in helping your financing needs in import business and mitigating risks to ensure that you receive the goods once your payment is made. We invite you to explore our comprehensive range of import solutions in greater detail.
Service Description
- Import LC is used to facilitate importers in Myanmar to purchase goods from overseas suppliers based on an agreement with the Exporter on the terms of their contract of trade. If the Exporter requires an LC to be opened in their favour, the Importer in Myanmar will have to arrange for one with its bank.
- No requirement of Credit facility
Service Benefits
- Import LC is the most secured payment method in international trade
- Same day LC issuance service before daily cut off time.
- Application form can be transmitted via the Customers’ registered email address with the Bank.
Documents Required
1. Commercial Letter of Credit Application Form(need to be affixed 200MMK special stamp)
2. Pro-forma Invoice and/or Sale Contract duly signed in acceptance by both the Buyer and Seller.
3. Original Import license issued by Ministry of Commerce (or) Non-License undertaking with company letterhead
Service Description
- This product is similar to that of Import letter of Credit. Such LCs are issued to facilitate local trade within Myanmar. Consequently, the shipping document will not be a bill of lading but a truck receipt or equivalent related to Local transportation practices that are consigned directly to the Buyer.
Service Benefits
- A Local LC is a safer payment tool for local trading.
- Same day LC issuance service before daily cut off time.
- Application form can be transmitted via the Customers’ registered email address with the Bank.
Documents Required
1. Commercial Letter of Credit Application Form (need to be affixed 200MMK special stamp)
2. Pro-forma Invoice and/or Sale Contract duly signed in acceptance by both the Buyer and Seller.
Service Description
- The Bank acts on behalf of the Buyer/Importer and is requested by the seller/exporter’s Bank to deliver export documents and collect payment in accordance with the instructions of the Seller/Exporter’s Bank.
Two types of Documentary Collections:
1.Documents against Payment Collection (D/P):
The importer receives the documents only after making payment.
2.Documents against Acceptance Collection (D/A):
Documents are delivered against acceptance of a Bill of Exchange or a promise of payment made by the importer.
Service Benefits
- Delivery of documents can be taken upon payment of amount mentioned on the Bill presentment invoice.
- Leverage the bank’s credibility to assure that the documents and underlying payment are properly handled.
Documents Required
1. KBZ Bank’s email notification of Bill documents arrival advice
2. Original Import license issued by Ministry of Commerce (or) Non-License undertaking with company letterhead
Service Description
- It is an Usance L/C payable at sight to the Exporter (LC Beneficiary) at the Exporter’s bank, KBZ Bank, the LC opener provides a credit facility to the Importer for the Usance period stipulated on the LC.
- The Importer is required to apply for the LC issuance facility.
Service Benefits
- This service will increase the bargaining power of the buyer – typically in terms of the contract price.
- It helps to enhance liquidity, improve cash flows for the beneficiary and maintain good relationships with foreign beneficiaries.
Documents Required
1. Commercial Letter of Credit Application Form(need to be affixed 200MMK special stamp)
2. Original copy of Import License (or) Non-License undertaking with company letterhead
3. Pro-forma Invoice and/or Sale Contract
Service Description
- TRL is a short-term finance to the Importer for clearance of goods shipped under an LC. Whilst the Title of the Goods remains with KBZ Bank, the Bank allows the Buyer to take possession of the Goods on Trust. The tenor of the TRL will be up to 180 days.
- Need to apply for Trust Receipt Loan credit facility
Service Benefits
- Importer is able to inject working capital into the Business by enabling clearance and sale of goods imported that essentially becomes stock in trade for the importer.
Documents Required
1. Company letter for TR Loan request (with letterhead)
2. TR Loan agreement duly executed;
3. Buyer’s accepted Bill of Exchange
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