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Suppliers Credit – Corporate Banking Payment Terms

Suppliers' credit is a facility where the supplier and buyer agree on a payment term. Through LC negotiation, the supplier gets paid at sight/as per payment terms from his bank, and the buyer gets time to make payment as per the use of LC.

Features & Benefits
How it works
Fees & Charges

Features & Benefits

Quick negotiation

The buyer can deal with the seller on a sight basis and negotiate a better deal.

Cheaper funds

The applicant gets access to cheaper funds from international markets.

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Wider locations

Multiple financing locations.

Fast transactions

Quick turnaround of transactions.

How to open a Future Star Savings Account online?

How it works?

There are three steps according to RBI guidelines:

01
The buyer approaches our bank with the requirement for financing.
02
We provide quotes from the funding bank to the client.
03
Post acceptance of the quote by the client, we proceed with documentation and LC issuance.
04
LC is sent to the 1st advising bank (the negotiating bank and is further advised to the 2nd advising bank (the beneficiary bank).
05
The exporter ships the goods and submits documents to his bank, which further sends them to the negotiating bank.
06
The negotiating bank pays the beneficiary bank as per LC terms, i.e., at sight/on acceptance from the issuing bank.
07
On the due date, the importer client pays us the principal plus applicable interest and the same is remitted to the negotiating bank.

Fees & Charges

SOC - Trade

Disclaimer

Product offering is subject to certain eligibility criteria as per the Bank's internal policy and is subject to the Bank's discretion.

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