Product / Service Features
By issuing an import Letter of Credit on your behalf, uab bank gives the assurance that your overseas supplier/exporter will receive payment if their documents meet the terms & conditions of your LC.
uab bank is acting as trustee and intermediary to handle the processing of documents and payments to your seller on behalf of you.
Documents against Payment (DP)
uab releases the import documents once the buyer is paid.
Documents against Acceptance (DA)
uab releases the import documents upon buyer acceptance of the bills of exchange/draft for payment at later date.
With uab’s Shipping Guarantee, you can take possession of your goods prior to receipt of original shipping and transport documents. This helps to avoid unnecessary demurrage costs due to delays in the arrival of import documents.