ACL BANK offers a wide range of international trade finance services to our customers. Our extensive global and local correspondent banking network can ensure that all trade transactions are handled professionally and efficiently

In global funds transfers, ACL BANK will be able to undertake remittances through the Society for Worldwide Interbank Financial Telecommunications (SWIFT). Our global correspondent banking network is well placed to facilitate and finance primary trade flows for our customers.

Why utilise our international trade services?
We help to facilitate our customers’ international trade transactions.
We help to enhance the credibility and the financial standing of our customers.
We help to manage our customers’ supply chains.

Trade Services for Imports

Import Letters of Credit
A Letter of Credit (L/C) can be issued by ACL BANK to an exporter at the request of the importer, to pay a sum of money against presentation of documents complying with the terms of the Letter of Credit . We issue all types of L/Cs such as Irrevocable, Transferable, Back-to-Back and Standby L/Cs through our correspondent banks worldwide.

Shipping Guarantees

Shipping guarantees are vital to enable our customers to obtain their goods before the arrival of the documents of title. The guarantee is issued in favour of shipping companies by ACL BANK against an undertaking to forward the Bills of Lading or other shipping documents to them when they are received.

Import Bills for Collection

ACL BANK provides facilities for importers to  obtain the necessary documents relating to their goods before making payment to the exporters. We are able to process import bills for collection on a D/A (Documents against Acceptance) or D/P (Documents against Payment) basis.

Trust Receipts (T/R)
An import loan facility can be advanced by ACL BANK to importers to pay for goods imported under Letters of Credit . On behalf of the importer, we will make payment to the overseas suppliers and provide finance for our importers against an agreement signed by the importer to take possession of the goods, and hold them in trust for ACL BANK. Upon sale of the goods, the importer agrees to pay the proceeds to ACL BANK.

Trade Services for Exports

Export Letters of Credit Advising

ACL BANK offers L/C advising services to the beneficiaries to ensure that all L/Cs advised are properly authenticated and promptly advised. ACL BANK may add confirmation to the Letter of Credit if requested, to provide our importers the assurance that they will be paid by ACL BANK even if the L/C Issuing Bank defaults in payment. ACL BANK can also transfer the L/C in full or in part to a second beneficiary if so requested. Our staff will always be available to assist our customers in preparation of the documents.

Export Bills for Collection

ACL BANK can also act as an agent to collect payments from importers on behalf of our exporters by submitting export documents to any overseas bank on a Documents Against Payment or Documents Against Acceptance basis. We promptly keep track of all export receivables and payments in accordance with our exporters’ instructions.

Export Bills Negotiation/Purchase

ACL BANK provides financing to exporters against their export bills negotiated under Letters of Credit while awaiting reimbursement from the issuing bank.

Packing Credit

ACL BANK provides pre-shipment Packing Credit financing for exporters. Packing Credits are provided to help exporters to obtain financing for the procurement of raw materials and the subsequent manufacture for export. Proceeds from the shipment are then used to repay the advance.

Inward & Outward Remittances

For international funds transfers, ACL BANK provides a fast and efficient service for all inward and outward remittances.