Letter of Credit Transfer-i (LCT-i)

Should you need someone else to supply the goods required, you may ask for a transferable LC from the applicant. Upon receiving the ILC the said ILC can be transferred to another beneficiary either for full or partial amount of the original ILC-i value. By doing so, you are still capable to meet the terms and conditions of the ILC-i and, at the same time, maintain the relationship with the importer.

This service is provided under the concept of Ujrah which refers to the fees charged for the services.


Benefits & Features

Benefits of using our products:

  • You don’t have to have a Trade Facility line with the Bank to enjoy the LCT-i services
  • By establishing the LCT-i, you don’t have to worry about the payment to the second beneficiaries as you can pay them upon receiving of payment from the ultimate buyer
  • Most of the documents required under the ILC-i will be prepared by the second beneficiaries and you as the first beneficiary will only have to prepare the draft (if required), commercial invoice and the shipping document e.g. Bill of Lading

Cut-off time

Application received by 1:00pm* will be processed on the same day.


* Subject to all terms and conditions complied with


Fees & Charges

Subject

Charges

Rate / Amount

1.   As per transaction Commission /Transfer fee

Local:

0.1% of Inward Letter of Credit (ILC) value

Min : RM250.00


Foreign:

0.1% of ILC value

Min: RM250.00


All ILC from any Arab and Indian Continents shall be charged a minimum of RM 300.

Max: RM500

2.   Foreign/ Local LC:
Issuance SWIFT MT720

Malaysia (Local): RM60.00

Outside (Foreign): RM60.00

Amendment SWIFT MT799

Malaysia (Local): RM50.00

Outside (Foreign): RM50.00

Local LC Transfer Postage Actual direct cost incurred
Courier Actual direct cost incurred
Foreign LC Transfer Courier Actual direct cost incurred
3.   Letter of Instruction Transfer (BB36) Stamp duty RM10.00
SWIFT

Malaysia (Local): RM25.00

Outside (Foreign): RM50.00

4.   Others
Fax Out of pocket expenses Actual direct cost Incurred
Photocopy Out of pocket expenses Actual direct cost Incurred
Other direct cost Out of pocket expenses Actual direct cost Incurred

Forms

Click here to download the form for LC Transer entirety (BB35 LC)

Click here to download the form for LC Transfer partial (BB36 LC)