Your exporter may require you to make a full or part payment in advance for the goods to be exported to you. The exporter will dispatch the goods to you after receiving your payment. For this purpose, the Bank will make your remittance. Remittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. in foreign currency to the exporter at a very competitive rate.
We have dedicated Trade Finance Desks spread throughout the country, which offer you the best services.
Import Direct Payments
You may require your exporters to dispatch the goods to you first, along with the required documents, before you make a payment for the goods. You can then approach the Bank, with the documents, so you can send the payment to your exporter. The Bank will ensure that the payment is made promptly at competitive rates.
We have dedicated Trade Finance Desks across India to help you with your import payments.
The Bank's Import Collection service is specially designed to provide value to your import business.
Once your overseas exporter send the goods to you, the exporter / exporter's bank sends the documents to the bank for collection .The Bank will then intimate you about the receipt of the documents. All you need to do is to authorize the bank to debit your account and send the remittance. Remittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. to the exporter's bank.
If it is a Sight Bill (Documents against Payment) then the necessary documents and debit authority will be collected from you for the remittance and the documents will be released to you.
If it is a Usance bill (Documents against Acceptance) then the acceptance letter will be taken from you and the documents will be released to you. On the due date payment will be made to the exporter's bank by debiting your account.
Our Trade Finance Desks are there to help you with any queries you have.