NotiPass_80%K-Trade Connect will be closed on December 11, 2019 at 10:00 p.m. and resuming services on December 12, 2019 at 02:00 a.m. $More Details.%/en/announcement/Pages/SystemMaintenanceK-Trade-Connect.aspx
/en/business/international-trade/loan/pages/packing-credit-against-lc.aspx
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Packing Credit under L/C, Contract, Stock
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Maximize liquidity. Turn papers into capital.
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Up to 80% pre-shipment credit line.
For applicant with complete documents required by the bank.
Note: The percentage of loans based on the value of letters of credit, contracts, pawn / pledge stock.
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Required document for cashing out.
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Loan Details
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Interest / FeesAccording to the bank's regulations | PeriodWithin the specified period |
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Maximum amount of loanSubject to the bank’s approval | Types of loansMaximum loan term is 180 days under the trade terms of the Letter of Credit contract, stock |
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ConditionsThe credit must be used to purchase materials for export production only; the bank charges a fine from exporters if they do not export their products or fail to fully deliver their export products |
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How to Apply
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- Entrepreneurs who export their products overseas
- Purchase orders used as evidence for credit applications must not be issued from
a country which is banned by the bank
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Frequently Asked Questions
What is a working capital?
Working capital is a short-term loan lent to a borrower by the bank. The borrower can use this loan amount in its day-to-day trading operations. This loan is a pre-shipping short-term loan which can be grant in forms of export documents with trading terms from Letter of Credit, sale contract, to stock in order for the borrower to have a working capital to operate in the export business.
How is the percentage of loan being calculated?
It is calculated from the value of the letters of credit, contracts, pawn / pledge stock which can be up to 80% of the collaterals.
What is a Loan for Packing Credit?
Packing credit is a loan given to exporters presenting required export documents to receive loan amount.
Which countries are banned?
Mostly are the countries in the sanction list or deploying a foreign currency control policy.
What is the fine charged to exporters if they do not export their products or fail to fully deliver their export products?
The export value will be determined by the bank which shall not less than the loan amount / year, if exporters fail to export or fully deliver their product, they will be fined for 0.25% of the amount that they cannot repay to the bank.
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