Shipping Guarantee-i (SG-i)
Shipping Guarantee-i is a facility where the Bank indemnifies and guarantees the shipping company for the release of goods to the buyer/importer without the presentation of the original Bill of Lading. Issued under the Kafalah contract, it can be defined as a surety provided by a party to the owner of the goods, who had placed or deposited his goods with the shipping company, whereby any subsequent claim by the owner for his goods must be met by the guarantor (the Bank).
Benefits & Features
Benefits of using our products:
- You can take delivery of goods immediately
- You will not have to incur demurrage and warehousing charges
- Enables you to sell the goods without delay
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. Upon issuance | Commission |
0.1% flat on the amount of the invoice; or Minimum : RM100.00 |
| 2. If SG is not returned | Commission |
0.5% per annum on the amount of the invoice: If SG-i is not returned within 3 months from the date of issue Minimum : RM50.00 |
| 3. Application to countersign SG (BB14) | Stamp duty | RM10.00 on the original |
| 4. Letter of Indemnity – deliver without Bill of Lading (BB15) | Stamp duty | RM10.00 on the original |
| 5. 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 |
Product Disclosure Sheet
Click here to download the PDS for SG-i
Click here to download the PDS for SG-i – Malay Version
Forms
Click here to download Form for SG-i (BB 14)
Click here to download the Form for SG-i (BB 15)
