Submit an application for opening an LC with a tenor: atSight/Usance/DeferredPayment/UPAS to the Issuing Bank.
Issuing Bank issues LC and mentions Advice Through Bank Sumsel Babel JKT/KAP/PangkalPinang/TanjungPandan
Bank Sumsel Babel submits the original LC at Sight/Usance/DeferredPayment/UPAS to the Beneficiary (Seller/Exporter)
Export LC Negotiation
Terms & Conditions:
Seller and buyer sign sales contract with tenor of payment is at Sight
LC at Sight opening application is submitted to Issuing Bank
Issuing Bank issues LC at Sight and accepted by Bank Sumsel Babel (Negotiating Bank)
Bank Sumsel Babel submits original LC at Sight to Beneficiary (Seller/Exporter)
Beneficiary (seller/Exporter) ships the goods in accordance with the terms and conditions contained in the LC to Importer
Beneficiary (Seller/Exporter) presents export documents to Bank Sumsel Babel
Bank Sumsel Babel Credits Debtor's Account, if the documents are clean or after acceptance from Issuing Bank if the documents are under discrepancies
Bank Sumsel Babel sends export documents with Schedule of Remittance and instructs Issuing Bank to remit export proceeds to the designated Bank Sumsel Babel Account.
Confirmation LC :
Terms & Conditions:
Seller and buyer sign sales contract
Issuing Bank issues LC and advises it through Bank Sumsel Babel, and asks Bank Sumsel Babel to confirm the LC.
Bank Sumsel Babel conveys the original LC to the Beneficiary (Seller/Exporter) with a cover letter.
