International Business/Trade Finance Services

Keeping our Motto to serve you better, we are proud to announce launch of International Business/Trade Finance Services.

In order to meet the banking needs of our clients in International business of Import and Export, we have started International Business/Trade Finance Department.

Our Trade Finance Department has a wide range of Services to meet your needs:

• Import Documentary Collections
• Commercial Letters of Credit
• Standby Letters of Credit
• Advising of LCs
• Transfer of LCs
• Export Bills for Collection

The department is fully equipped with SWIFT and State of the Art Trade Finance Package for prompt processing of Transactions. The department is headed by an experienced banker who has wide experience of over 20 years in the field of International business/Trade Finance.

Documentary Collections

Documentary Collections are very common in this trade as they offer a good alternative to Letter of Credit at much lower cost to trade with your business partners. These Collections are of two types based on your payment terms:-

• Documents Against Payment – DP
• Documents Against Acceptance - DA

The documents are delivered against payment in case of DP documents and against acceptance to pay at a future date as per tenor of draft in case of DA documents.

Our Package is designed to ensure that all collections are handled promptly and automatic messages are created and sent to the remitting bank. Similarly when payment is processed, the system ensure that payment message by SWIFT is sent to the bank.

Letters of Credit.

A letter of Credit is a document issued by a bank on behalf of it’s client undertaking to pay to the beneficiary at sight or on due date on receipt of documents complying with the terms of the LC. In fact the Issuing Bank is lending its credit to the client on whose behalf (Applicant) the LC is opened.

Our Trade Finance Package is equipped to process all requests for opening LCs very promptly and it has interface with SWIFT which enables us to send the SWIFT message directly from this package. This saves the time to create a SWIFT message for sending the LC to the beneficiary through the advising bank. This not only ensures speedy handling but it also ensures accuracy.

All financing is subject to approval.

Export Services

We will be starting full range of Export Business Services shortly. To start with we will be extending following services:-

• Documentary Collections.
• Advising of letters of credit
• Transfer of LCs

we will be adding export bills discountings agiast LCs

All financing is subject to approval.

Please be in touch with us directly or through our website for an update on this. To know more about these services please contact

Surjit Lamba Telephone: 732-603-8200 Extension 116

Or email slamba@indusamericanbank.com