Trade Tawarruq-i (TTQ-i)

Trade Tawarruq-i (TTQ-i) facility is to finance the purchase/ importation of goods against domestic or international trade Letter of Credit-i or Inward Bills for Collection-i or on Open Account basis. It enables you to settle payment in a convenient manner and facilitates convenient cash flow management. It also mitigates the issues of non-existence of underlying asset and to provide hassle free to the customer as the underlying asset has been identified upfront.

This facility is design specifically (but not limited) to cater the following business scenarios:

  1. Financing for provision of services (i.e. Installation);
  2. Financing with staggered facility disbursement arrangement (i.e. financing of contract at pre-completion stage);
  3. Financing of asset under construction;
  4. Financing of intangible items, food and beverage, logistic, software, drawings, deposit payment as well as precious metal including gold and silver; and
  5. Financing re-imbursement

Benefits & Features

Benefits of using our products:

  • Enables you to settle payment obligation to the seller or get immediate reimbursement on the advances made to the supplier or even get immediate cash for your credit terms sales
  • Facilitates convenient cash flow management of a business by having a fixed rate financing nature
  • As a prudent and reliable basis for the preparation of the business projection since the payment amount will not be affected by fluctuation in the Base Financing Rate
  • Provide up to 100% financing of invoice value
  • To benefit your unexpected incoming fund, prepayment is allowed

Cut-off time

Application received by 12:30pm* 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
Direct Invoice Financing Commission

0.1% flat on the bill amount with:

Min : RM50.00

Max : RM100.00 (Foreign currency)

Max : RM500.00 (Local currency)

Splitting/Bunching Invoices Commission RM50.00 flat for bunching of 5 and more invoices per transaction or splitting to more than 1 transaction on same invoice.
Local Postage Actual direct cost incurred
Courier Actual direct cost incurred
SWIFT

Malaysia (Local): RM25.00

Outside (Foreign): RM50.00

RENTAS RM2.00 per RENTAS application
Interbank Giro RM0.10 per IBG application
Banker’s Cheque

Stamp Duty RM0.15

Processing Fee RM0.50

2.   Tawarruq Commodity Transaction Cost Brokerage fee As advise by commodity supplier from time to time
Tawarruq Wakalah Agency Fee RM50.00 (one time only on first time utilization of facility)
3.   Utilization Notice Stamp duty RM10.00
4.   Letter of Indemnity (for summary invoices) Stamp duty RM10.00
4.   Bills drawn under LC Handling fee RM50.00 flat
5.   Overdue Bills Ta’widh

As per Ta’widh formula:

= FV x r x t / 36500

Where,

FV = outstanding overdue amount (outstanding amount = cost + profit overdue)

r = IIMM rate

t = no of days due from the original maturity date

6.   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 Utilization Notice