After signing the sales contract with payment’s method using a L/C, you should request your business partners to send the L/C to Shinhan Bank Indonesia (SWIFT code: SHBKIDJA) via the issuing bank for advising the L/C.
Our professional staff in International Department shall check the authenticity of the L/C
Documentary Credit (DC) issued to customer within the shortest time
Professional consultancy is available to minimize your cost and risk
Other advices on expansion and international trade are available if required
You are recommended to get consultancy of our competence staff from Shinhan Bank Indonesia regarding the terms of payment and issuing bank before signing the contract
You must request your business partner (L/C applicant) to choose Shinhan Bank Indonesia as the advising bank on the L/C’s advising.
The parties involved in L/C are not included in the sanctions globally or locally (UN, OFAC, UK, EU, and Local sanction list)
Transfer Letter of Credit (L/C)
This service is used when you are not the ultimate seller such as trader, middleman,and buying agent. As the first beneficiary, you may request Shinhan Bank Indonesia to transfer all or a part of the L/C value. We shall transfer the L/C to the second beneficiary quickly and efficiently with high accuracy.
Available for transfer to multiple secondary beneficiaries
No Credit Line is required
The information or details of buyer and seller are kept confidentially so that you can get your commission income without worry.
The L/C is transferable L/C
The L/C states that Shinhan Bank Indonesia is the transferring bank or nominated bank
Application form for L/C transfer
Original L/C and its relevant amendments (if any)
It is provided with recourse service which means that we will make payment in advance for all or a part of your export bills’ value. We have the right to use the payment amount received from your partner’s bank to compensate the discounted amount. However, in case your partner’s bank fails to make payment for the export L/C on due date, you should bear the responsibility to refund the discounted amount to Shinhan Bank Indonesia.
Payment is made immediately at the time of the presentation of shipping document based on documentary credit (L/C) transaction
Your business capitals are ensured so that you can make investment of your proceeds as soon as possible
Allow you to offer more payment options to your customer without negative impact on your cash flow
Flexible fee, profitable trade finance, and competitive interest rate
Our experienced staff shall check your shipping documents and inform you on discrepancy to ensure the full set of document before presentation to the issuing bank of documentary credit
Application form for L/C negotiation
Original L/C and its amendments (if any)
Full set of shipping document as per L/C’s request
Having export negotiation facility with sufficient collateral and approved by loan/credit committee
Export Documentary Collection
Shinhan Bank Indonesia, on your behalf, shall send your collection request along with the document to your business partner’s bank for collection. We then follow up and inform you when the acceptance is performed or crediting the collection amount to your account as soon as the payment is made. There are two kinds of collection, as follow :
D/P (Document against Payment)
Collecting bank does not release the shipping document to the importer until the payment has already been made.
D/A (Document against Acceptance)
Collecting bank does not release the shipping document to the importer until the usance bill has been accepted.
Worldwide correspondent banking network allows Shinhan Bank Indonesia to send collection document easily
You can withdraw money quickly at the reasonble fee
Simple and cost effective method for international trade
Document and payment collection are processed by the bank, on your behalf