Bank Account Opening
Your Concern as an Intermediary, Trade or Sourcing Office:
Securing payment from the ultimate buyer while giving the ultimate supplier supplier payment assurance to ship the goods.
Back-to-Back Documentary Credits Service:
A Back-to-Back DC is issued to your supplier based on the same terms and conditions of the Export DC you received from the buyer (the Master DC), except that:
- The value may be lower than the Master DC.
- Shipment and expiry dates may be earlier.
- The period for presentation of documents is shorter than that allowed in the Master DC, so that you have sufficient time to prepare and substitute the documentation (usually draft and invoice) prior to negotiation under the Master DC.
- Insurance coverage must cover at least 110 percent of the value of goods under the Master DC (Carriage and Insurance Paid To (CIP)) or (Cost Insurance and Freight (CIF) value).
