Export Services
KBZ is your partner in helping your financing needs in export business and mitigating risks to ensure that you are paid once your goods are delivered. We invite you to explore our comprehensive range of export solutions in greater detail.
Service Description
- KBZ Bank email/mail notifies arrival of the authenticated Letter of Credit received from overseas importers to the beneficiary immediately
- No requirement of Credit facility
Service Benefits
- Authenticating the genuine of the letter of credit
- Quick turnaround time on LC delivery
- Provide review services on LC contents for exporter
Documents Required
1. KBZ Bank’s mail/email notification of LC arrival advice
2. Duly signed company’s letter (with company’s letter head) requesting release of Export LC.
3. The original copy of export license issued by Ministry of Commerce (or) Non-license undertaking letter
Service Description
- KBZ Bank checks the documents presented against the LC terms to ensure all documents are in line with the LC terms as required under the applicable UCP rules issued by the International Chamber of Commerce (ICC).
Service Benefits
- Extensive correspondent banking network; enable efficient, seamless and professional services
- Solid expertise in documentation handling to ensure that payments are received in time, enable accurate cash flow projection
Documents Required
Duly signed letter from an exporter requesting the Bank for bill handling with the following supporting documents:
1. Authenticated original copy of Export LC
2. Export LC Bills application Form
3. Original Shipping Documents stated per export LC terms e.g.
- Commercial Invoice (Proof of Value),
- Bill of Lading (Proof of Shipment),
- Packing List (Proof of Packing)
- Certificate of Origin (Proof of Origin),
- Certificate of inspection,
- Insurance policy (CIF term)
4. Original Export license issued by Ministry of Commerce (or) Non-license undertaking with company letterhead
5. Original Allowed Shipment Notification issued by Myanmar Customs
Service Description
- To facilitate customers present the export documents to the importer’s collecting bank with instructions to handle documents for collecting export proceeds as per Uniform Rules for Collection (URC) issued by the ICC.
Two types of Documentary Collections:
1.Documents against Payment (D/P):
The importer receives the presented documents only after making payment to the Collecting Bank.
2.Documents against Acceptance (D/A):
The importer receives the presented documents only after making an acceptance of a Bill of Exchange and promises to make payment in a certain future date.
Service Benefits
- A safer legal (URC covered) option to obtain payment of the bill from the Importer as compared to an open account or direct approach (outside Banking Channels)
- Shipping documents will be released only as per payment terms for shipping documents that are not consigned to Order thereby ensuring that the goods remain in control of the presenting Bank/Exporter
Documents Required
1. Export Collection Bills Application Form ( Without Letter of Credit)
2. Original Shipping Documents
3. Original Export License issued by the Ministry of Commerce (or) Non-License undertaking with company letterhead
4. Original Allowed Shipment Notification issued by Myanmar Customs
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