Trade Products

Letter of Credit

Bank Contracts

Guarantees

Trade Financing

Export Refinance

Forward Cover
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 Product Overview
Letter of Credit

• Letter of Credits – An Overview

• Basic Terminology Used
• Parties Involved
• Types of Letter of Credits
• Stages of Letter of Credits
• Letter of Credit – Advantages and Risks
• Role of UCP

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Letter of Credits

“A Letter of Credit is a written instrument issued by a bank at the

request of its customer, the Importer (Applicant), whereby the
bank promises to pay the Exporter (Beneficiary) for goods or
services, provided that the Exporter presents all documents
called for, exactly as stipulated in the Letter of Credit, and meets
all other terms and conditions set out in the Letter of Credit. A
Letter of Credit is also commonly referred to as a Documentary
Credit.”

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Basic Terminology Used
• Incoterms – International Commercial Terms
– Purpose of Incoterms
– Incoterms structure
• E Group: Ex Works
• F Group: FCA, FAS & FOB
• C Group: CFR, CIF, CPT and CIP
• D Group: DAF, DES, DEQ, DDU & DDP
• Sight and Usance
• Airway Bill – Bill of Lading
• Invoices – Performa Invoice
• Insurance Cover
• Bill of Exchange
• Negotiation Date
• Shipment Date

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Parties Involved
Issuing Bank 3. LC Issuance
Advising-
Confirming
Bank
7. Docs
8. Acceptance

10. Payment

11b 9. Neg $. 6. Docs. 4. Advise LC

11a Docs
2. LC App. Payments

Importer / Exporter / Seller

Buyer
1. Purchase Contract

5. Shipment

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Types of Letter of Credit

Revocable
Irrevocable
Unconfirmed
Confirmed
Standby Letter of Credit
Revolving Letter of Credit
Transferable Letter of Credit
Back-to-Back Letter of Credit

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Types of Letter of Credit

Revocable Letter of credit

A revocable Letter of Credit can be amended or cancelled at any time by
the importer without the exporters agreement (unless documents have
been taken up by the nominated bank).
Therefore little protection is offered to the exporter with a revocable
credit and they are rarely seen.

Irrevocable Letter of credit

An Irrevocable Letter of Credit can neither be amended nor be cancelled
without the agreement of all the parties o the credit.
Here the importer’s bank gives a binding undertaking to the supplier
provided all the terms and conditions of the credit are fulfilled.

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Types of Letter of Credits

Unconfirmed:
An unconfirmed letter of credit is forwarded by the advising bank directly
to the exporter without adding its own undertaking to make payment or
accept responsibility for payment at a future date, but confirming its
authenticity.

Confirmed:
A confirmation letter of credit is one in which the advising bank on the
instruction of the issuing bank has added a confirmation that payment
will be made as long as compliant documents are presented. The bank
usually makes an additional charge for confirming a letter of credit.
This added security to the exporter needs to be considered in context of:
– Standing of Issuing Bank
– Current political and economic state of importers country.

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Types of Letter of Credit

Standby Letter of Credit

A standby letter of credit is used as a support where an alternative, less
secure, method of payment has been agreed. They are also used in USA in
place of bank guarantees. Should the exporter fail to receive payment
from the importer he may claim under the standby letter of credit

Revolving Letter of Credit

The revolving credit is used for regular shipments of the same commodity
to the same importer. It can revolve in relation to time or value.
If the credit is time revolving once utilized it is reinstated for further
shipments until the credit is fully drawn.
If the credit revolves in relation to value once utilized and paid the value
can be reinstated for further drawings

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Types of Letter of Credit

Transferable Letter of Credit

A transferable letter of credit is one in which the exported has the right to
request the paying, or negotiating bank to either part, or all, of the credit
value available to one or more third parties. This type of credit is useful
for those acting as middleman especially where there is a need to finance
purchases from third party supplier.

Back to Back Letter of Credit

A back to back letter of credit can be used as an alternative to the
transferable letter of credit. Rather an transferring the original letter of
credit to the supplier, once the credit is received bythe exporter from the
opening bank, the letter of credit is used as a security to establish a
second letter of credit drawn on the exporter in favour of his importer.

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Stages of Letter of Credit
1) Buyer and Seller agrees terms including means of transport,
period of credit offered (if any), latest date of shipment,
Incoterms to be used.

2) Buyer applies to bank for issue of Letter of Credit. Bank will

evaluate buyers credit standing and may require cash
cover and/or reduction of other lending limits

3) Issuing bank issues L/C, sending it to the Advising bank

airmail or more commonly electronic means such as telex
or SWIFT

4) Advising bank establishes authenticity of letter of credit using

signature books of test codes, then inform seller
(beneficiary). Advising bank MAY confirm L/C i.e. add its
own payment undertaking.

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Cont…
5) Seller Should now check that L/C matches commercial agreement, and
that all its terms and conditions can be satisfied, (e.g. all
documents can be obtained in good time) If there is anything that
may cause a problem, an AMENDMENT must be requested.

6) Seller ships the goods, then assembles the documents called

for the L/C (invoice, transport document etc.)

7) The documents are presented to a bank, often the Advising

bank. The advising bank checks the documents against
the L/C. If the documents are in compliant, the bank pays
the seller and forwards the documents to be issuing bank.

8) The Issuing bank now checks the documents itself. If they are in
order (and it is a sight L/C), it reimburses the seller’s bank
immediately.

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Cont…

9) The issuing bank debits the buyer and releases the documents
(including transport document), so that the buyer can claim the
goods from the carrier.

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Letter of Credit Advantages and Risks

• Payment only upon seller’s • Banks deal in docs, not in goods.

tendering of compliant docs The merchandise might not be as
per docs
Buyer • Ability to obtain bank financing

• Covers Buyer’s Country Risk • Seller’s docs must comply strictly

• Eliminate political risk if LC is with the terms and conditions of
confirmed the LC to ensure payment
Seller
• Ability to obtain bank financing

Advantages Risks

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Brain Drill

Can you judge the difference between Import

Letter of Credit and Export Letter of Credit…

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Role of UCP

Uniform Customs and Practice for Documentary Credits

• Most Letter of credits are subject to UCP 600, which are the
universally recognized set of rules/practices governing the use of
the letter of credits in international trade.
• It was formulated in 1933 by International Chamber of Commerce
(ICC)
• Last updated in 2007 – ICC publication 600

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 Product Overview
Bank Contracts

• Bank Contracts – An Overview

• Basic Terminology Used
• Parties Involved
• Stages of bank Contract
• Types of Contracts

12/30/2017 17
Bank Contracts

“ Bank Contracts or “Documentary Collections” are similar to Letter of

Credit/ Documentary Credits, the difference lies in the fact that in Bank
Contracts the bank is not liable to pay against the documents received.”

Shipping Documents are routed to the buyers bank with instructions to

deliver the document either against payment or against buyer
acceptance.

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Basic Terminology Used
D/P (documents against payments)/ C.A.D (Cash against Payments)
• Instruction to release the documents against payment.
D/A (Documents against acceptance)
• Documents may be released to the drawee against acceptance on drafts
or irrevocable undertaking.

Types of documents

Financial Documents
• Bill of exchange
• Irrevocable undertaking
• Cheques
Commercials Documents
• Invoices
• Bill of Lading
• Airway Bill
• Packing List

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 Parties Involved

Seller 1. Contract Buyer

2. Shipment of Goods

3. Docs & 5b. Docs

5a.
Collection Order 7. Payment Payment

Remitting Bank 4. Docs & Collecting/

Collection Order Presenting Bank

6. Payment

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Parties Involved
• Principal
– Principal is the exporter who ships the goods and present
documents to the bank for payment.

• Remitting Bank
– Remitting bank is the exporters bank to whom documents have
been presented for handling collections.

• Collecting/Presenting Bank
– Collecting Presenting Bank is the importers bank who can handle
the collection as instructed by the Remitting Bank.

• Drawee
– Drawee is the Importer to whom Goods have been shipped and
must act in the manner as instructed in the collection.

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Stages of Bank Contract
An application form needs to be filled in and submitted, in order to open Bank
Contract.

Once the application along with the documents has been received at the branch , it
is immediately sent to the trade dept. for processing. The Opening of Bank
Contract is subject to following:

1. Validity of Insurance Policy

2. Insurance Cover
3. Contract period mentioned should not exceed one year
4. Performa voice specifications should be consistent with the Application
Form
5. Shipment and Negotiation date should not exceed thirty days
6. Verification of authorized signatories
7. Verification of H.S Code

After Checking the above details the bank contract is issued.

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Types of Contracts
Direct Documents
Documents are forwarded directly to the Importer by the Exporter. Only
Status Holders can forward documents directly to the Importer

Documents through Bank

Documents are forwarded to the Overseas Bank. The Overseas Bank in
turn contacts the Importer for delivery of documents.

Advance Documents
Where an exporter receives payment prior to shipment of goods

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 Product Overview
Guarantees

• Guarantees – An Overview
• Parties Involved
• Direct vs. Indirect Guarantees
• Financial and non Financial
Guarantees
• Basic Terminology Used
• Guarantees

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Guarantees

“It is an irrevocable obligation of a bank to pay a sum of money in

the event of non performance of a contract by third party. The
bank has to pay on first demand i.e. when the guarantee is
correctly called upon, subject to the laws of country as stipulated
in the guarantee”

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Parties Involved
The 3. Non-performance
In case of Performance
The Principle
Beneficiary of Obligations by
Principal

ion
2.

at
G’
te

lic
eI

p
ss

Ap
3. ua
G’ nc

tee
tee e

G’
rel

1.
ea
se
d
The Guarantor

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Parties Involved
The Beneficiary
The Person/Company inviting the contract. The beneficiary wishes to be
secured against the risk of the principal’s not fulfilling his obligations
towards the beneficiary in respect of the underlying transaction for which
the demand guarantee is given.

The Principle
The Person/Company entering into the contract. Whilst recognizing the
needs of the beneficiary the principal can expect on grounds of equity and
good faith to be informed in writing that in what respect, it is claimed he is
in breach of his obligations.

The Guarantor
The assuror/ Surety to the beneficiary of financial compensation in the vent
of default by the principle. The guarantee should not stipulate any
condition for payment other than the presentation of a written demand.

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 Direct vs. Indirect Guarantees
Direct Guarantees
Direct Guarantees are ordinary issued by the account party’s house bank or by
another bank in the account party’s country

Bank

Instructions - Counter Guarantee

Guarantee

Account Party / Beneficiary /

Principle Debtor Creditor
Contract

Guarantee Clause

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Direct vs. Indirect Guarantees
Indirect Guarantees
The abject “indirect” relates to the structure consists of two links namely
instruction mandates and counter guarantee between the first instructing
bank and the second issuing bank.

First/Instructing
Bank
Second/Issuing
Bank
Instructions mandate
Instructions mandate

counter guarantee
counter guarantee

Guarantee
Account Party Beneficiary

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Financial and Non Financial Guarantees

Financial Guarantees:
Financial Guarantees are those which provide security for financial
obligations.
For e.g. those of borrower for payment of principle sum and interest arising
from credit facility.

Non-Financial Guarantees:
Non – Financial Guarantees provide security for non financial obligations.
For e.g. those of the seller for the delivery of goods or those of the
construction firm for completion of the project.

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Basic Terminolgy Used
Issuance date
The date on which guarantee is issued

Effective Date
The date after guarantee becomes effective (may b be on the date of
issuance or after the date of issuance)

Expiry Date
The actual date when the guarantee reaches the end of its term and
becomes void.

Counter Guarantee

Master Counter Guarantee

Standard Liability Clause (SLC)

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 Basic Terminology Used

Counter Guarantee
Counter Guarantee is defined as…

“Any guarantee bond or other payment undertaking of the

instructing party. However named or described, given in writing for
the payment of money to the guarantor on presentation in
conformity with the terms of the undertaking of a written demand
for payment”

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Basic Terminology Used

Master Counter Guarantee

Master Counter Guarantee is defined as…

“A counter Guarantee which is applicable on all

guarantees issued by a bank on behalf of a customer”

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Basic Terminology Used

Standard Liability Clause

Under this clause the guarantor is absolved from any responsibility in
connection with the contract once the expiry date has passed. Thus the
guarantee will be null and void upon its expiry whether the original
instrument is returned or not. This clause is inserted in each guarantee
other than the customs guarantee.

This clause is also endorsed in Article 22 of URDG which states…

“The guarantee ceases to have any effect upon the expiry date
or expiry event as stated in guarantee, irrespective of the return of
the guarantee document. However the return of document is
deemed useful for administrative purpose.”

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Types of Guarantees

Bid Bond or Tender Bond

Performance Bond
Customs Guarantees
Advance Payment Guarantees
Shipping Guarantees
Retention Money Guarantees.

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Types of Guarantees

Bid Bond Or Tender Bond

Construction contracts and major contracts for supply of supply goods are
often, especially in public sector, awarded through tender procedure. The
conditions or regulations governing the invitations for tender invariably
require bidders to furnish a tender guarantee! (or bid bond for preliminary
deposit) for a certain percentage which ordinary ranges from one to five
percent of whole project.

Therefore the purpose of tender guarantee is…..

“to ensure that the bidder does not withdraw or alter his
tender before adjudication and that he will accept and sign the
contract if and when awarded to him”

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Types of Guarantees

Characteristics of Bid Bond/Tender Bond

o If the customer fails to take up the contract after being awarded, the
bank who acts as a guarantor will have to pay the stated sum of money
to the beneficiary. This sum of money is compensation to the beneficiary
who has to incur cost in order to examine again, the specifications of
another party’s bid.
o The bid bond is valid till the signing of the actual contract or issuance of a
performance bond. Duration is usually 3 to 6 months, with the expiry date
corresponding to the expected contract award date.

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Types of Guarantees

Performance Bond
A Performance Guarantee is an undertaking given by the bank (the
guarantor) at the request of a supplier of goods or services of other
contracts (the principle) to a third party (the beneficiary) where by the
guarantor undertakes in the event of a default by the principle in the due
performance of the terms of a contract between the principal the
beneficiary to make payment to the beneficiary usually on the first demand
within the limits of a stated money.

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Types of Guarantees

Advance Payment Guarantee

The beneficiary often makes an advance payment to the customer before
performance of a contract in products that requires heavy working capital
such as steel works or power stations. However in order to protect himself
from frauds or failure to perform by the customer and losing

Characteristics of Advance Payment Guarantees:

The value of this guarantee is usually 10% of the contract amount or more.
It may also be a fixed amount. The customer actually earns the advance as
he progresses with the contract. For this reason the bank should try to
ensure that the guarantee amount is reduced over the course of the
contract in proportion to the progress made.

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Types of Guarantees

Custom Guarantee
The contractor (customer) who is importing equipment for a given project
can obtain an exception from paying imports duties to the custom
authorities of the country. The bond entails him to re-export the
equipment out of the country upon completion of the project. If the
contractor fails to do so, the bond will be called upon.

Characteristics of Customs Guarantees

o The customs guarantees are initially opened for specified period and
are extendable on quarterly basis till the time the original instruments
are received.
o Customs Guarantee does not include the SLC (Standard Liability
Clause)

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Types of Guarantees

Shipping Guarantees
These guarantees are issued when the goods have reached at the port and
the original documents have not received by the bank.

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Types of Guarantees

Retention Money Guarantee

Generally the contractor is required to give a guarantee for the release of

funds retained at the time of completion of project (retention money).
This is also a financial guarantee as it is in lieu of funds due from the
project authority.

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The Call

• The guarantee must have been called…

– It is evident that the bank is neither to pay nor to seek reimburseent, if the
guarantee has not been called
• Who is entitled to call…
– The person entitled to call the guarantee is the one which is the guarantee
designates as the beneficiary and the bank should refuse payment if the
guarantee is called by a person other than the beneficiary.
• Lodgment/Submission of Claims…
– Any demand in Guarantee shall be in writing (in addition to other documents
as may be specified in guarantee) be supported by a written statement
(whether in demand itself or in a separate document or documents
accompanying the demand and referred to in it stating:
• That the principle is in breach of his obligation(s) under the underlying contract(s)
or in case of a tender guarantee, the tender conditions; and
• The respect in which the principal is breached.

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AIM And Guarantees
What AIM says about Claims…

If the claims meets the conditions of the guarantee, the bank has to pay
even if contrary to the wishes of the customer as a bank guarantee is a
unilateral obligation on the part of the bank

What AIM says about Conditional and Unconditional

Guarantees…

A Bank guarantee is usually payable at the first request of the beneficiary.

It is then called an unconditional guarantee, or “on demand guarantee”

There are also conditional guarantees, where the right to claim payment
is conditional for e.g. on a particular ruling of court or arbitration
committee in addition to the beneficiary request for payments.

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 Product Overview
Trade Financing

• Types of Financing on Export Documents

– Export Fe-25
• Pre-Shipment USD Financing
• Post-Shipment FCY Financing
– Post-Shipment Own Means- PKR Financing

• Types of Financing on Import Documents

– Import FE 25 (Own Means)
– Import PKR Loan

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Fe 25 Financing

Fe 25 Financing

An arrangement under which Banks adds on its assurance of

payment under letter of credits issued by importer’s banks around the
world; as long as the exporters provides compliant documents.

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Preshipment Financing – USD Financing

• Pre Shipment Financing (in USD, Foreign Currency) is provided against

international export contract and letter of credit with quarterly mark up
recovery facility for a period of 180 days.
• Local exporters who require capital to execute international export
orders use this product.
• Though the product is offered as a pre-shipment loan to exporters,
however it may be converted to post shipment loans of settled through
Export FE 25 Bill Discounting.

Target Market
This facility is for our core clients who require working capital to execute
international export orders.

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Post-Shipment FCY Financing

Under the Post Shipment FCY financing facility there are two options
available for clients.

FCY Post Shipment Loan

A Post shipment loan in USD is available to clients against international
letter of credits or Export Contracts. The period for loan depends on the
tenor of the bill however the maximum period for the loan is 6 months
with quarterly mark up recovery.

Fe-25 Bill discounting

Our Bank provides FE-25 export discounting by using Fe-25 funds on bill to
bill basis. Bank will discount the bills by disbursing an export loan for the
discounted value to the customer.

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Post-Shipment own means (PKR) Financing

Clients have the option of availing a Post-Shipment Own Means Loan in

PKR against International Letter of Credit or Export Contracts. A loan is
granted for 95% of equivalent PKR bill amount. Repayment of the loan
takes place by realization of the export bill.

loan is granted when:

– A Shipment proof (bill) along with request letter is received from the client
– The RM / Trade Officer in co-ordination with treasury confirms mark-up rates
and cost of funds.

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Import PKR Loan

Under this facility loan will be disbursed at specific rate (plus the libor) for
a specific tenor – maximum 12 months. Forward Booking is not allowed
for such loans.

Requirements:
• Customer request letter for financing
• Signed Undertaking
• Approval from BS/LPG Head.

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Import Fe-25 Loan

This scheme utilizes customers USD fixed deposit in lending import loans
to import customers in order to settle their Import Bill Payments. The bank
charges interest plus libor from the customer for the financing period.

Requirements:
• Customer request letter for financing
• Signed Undertaking
• Approval from BS/LPG Head.

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Product Overview
Export Refinance

Types of Financing

Export Refinance Part I

– Pre-Shipment Finance
– Post-Shipment Finance

Export Refinance Part II

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Export Finance – Part I

Pre Shipment Finance

The exporter can avail this facility and acquire finance before the
shipment of goods to the importer.

Post shipment Finance

The exporter can avail this facility and acquire loan to fulfill his contract
with his importer after shipment of goods, i,e for a period of 180 days
from the shipment date.

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Performance for Part I

• Exporters are liable to submit shipping documents within 30 days

from shipment date (last shipment in case of fragmented
shipments) or from the date of expiry of loan whichever is earlier.
• Documents that need to submitted are
– Copies of invoices
– Bill of Lading
– Duplicate form E
– (PRE) + ERPC within 180 days from shipments date in both the cases.
• Performance Should be equal to loan amount
• The exporter has to submit Export Proceeds Realization Certificate
(EPRC) to the Bank which would then submit Annexure D and EPRC
to SBP.

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Documents Required in Part I

– Application by the Exporter

– Undertaking on “Form B” indicating his financial needs.
– Undertaking to pay mark up at normal rate in case application is
declined by SBP.
– Original Contract or L/C
– D/P Note
– Copies of Invoice, B/L and “Form E” in case of Post Shipment.
– Banks apply for refinance on “Form D” with D/P Note.

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Fines – Part I

• Fine for Non shipment - Paisa 37/Rs 1000/day

• Delay / short Shipment - Paisa 28/Rs 1000/day
• Delay in submission of shipping documents - Rs 2000 flat + Rs 100/
day for the delayed period
• Delay in repayments of loan to SBP - Paisa 42/Rs. 1000/Day on the
amount of repayment.
• For any misreporting in ED statement - Fine Rs. 1000

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Export Finance – Part II

The Scheme

• Under this scheme the exporter gets a lump sum amount against a limit
sanctioned by SBP.
• Limit is sanctioned on the basis of their previous year performance
verified by State bank of Pakistan on Form EE submitted by the client.
• This entitlement is half of the verified “EE” amount and is revolving in
nature.
• The loan shall not remain outstanding beyond a maximum period of 180
days.

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Performance for Part II

• Exporters have to submit performance under Part II at the end of

financial year.
• This is submitted on Form “EF” duly verified by SBP
• Performance should be double the amount of loan taken during the
financial year.
• Fine is imposed on misreporting, excess avail and short performance
by SBP

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Product Overview
Forward Cover

Forward Cover means that…

“A customer secures himself by booking his payments/

receivables, for future settlement, at the time of opening an LC/
Contract/Negotiation/Collection, in advance, by negotiating rates
for specified currency with the bank, at future value”

Forward Cover Facility is available:

1) Against Import of goods into Pakistan

2) Against Export of goods from Pakistan
3) Foreign Currency Accounts

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 Forward Cover – Overview
Forward Cover facility available for import into Pakistan:
Forward Cover can be booked at any time by the customer after
establishing an LC or opening a contract.

However in most of the cases Forward Cover is booked either:

 At the time OR after establishing LC or Opening Contract.

 At the time of Acceptance of usance Bill, up to maturity date.
 OR during e tenor of usance period up to maturity date

Permissible Period for booking:

• Minimum Period – 1 month

• Maximum Period – I year (optional)
• Can be rebooked for any number of days after settlement of the first
Contract at a revised rate

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Forward Cover – Overview
Forward Cover facility available for export from Pakistan:
Forward Exchange Cover can be taken by the export against underline
transactions i.e. Letter of Credit and Contracts

However in most of the cases Forward Cover is booked either:

 At the time of submission of export documents.

 At the time of Acceptance Confirmation of usance bill.
 During the tenor of usance period.

Permissible Period

• Banks are permissible to provide forward cover too exporters for a tenor
ranging from one month to six and a half months from the last date of
shipment.
• Forward Cover is provided for fixed maturity, in accordance with the prevailing
market rates.
• In case, realization of the export comes in within one month transaction will be settled on
the spot selling rate.

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Difference between Take up & Set Off

Forward Cover Take up

Utilization of Forward Cover Booked at the time of Payment.

Forward Cover Set Off

Forward Cover unutilized at maturity date due to non-receipt of documents,

shipment not effected, bill matured before the forward option date or bill
maturity falls after forward cover expiry date.

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 Product Overview Ends

12/30/2017 63
FAQ(s)
FAQ(S) - Letter of Credits
1. L/C's not received by the beneficiary. Please advice on the status.
2. Please ask your overseas branch to call up beneficiary and fax them the LC
copy
3. When have you advised the LC to beneficiary? What is the mode of dispatch
4. When have you advised the L/C Amendment to the beneficiary?
5. What are the LC advising charges and other related charges?
6. What are the LC confirmation & discounting charges?
7. Have your overseas branch discounted my documents? What is the date of
discounting?
8. Please advise me the LIBOR rate of this financing?
9. Have my documents been couriered from overseas branch?
10. We need AAB local office to send import LC reimbursement authorization.
Please help?

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FAQ(s)
FAQ(S) - Letter of Credits
11. Our reimbursement authorization is not debited till date. Please advise us the
reasons?
12. Kindly available room in our reimbursement authorization.
13. Claiming bank has not received funds, though our account has been debited for
the said claim.
14. I have sent export reimbursement to your office. Have you lodged the
reimbursement claim?
15. We still have not received export reimbursement payment. Please expedite
16. We had been debited in excess. Please arrange to refund the excess amount.
17. Whether we can add confirmation to this LC… e.g. in Syria, Iran where we do
not have branches?
18. Foreign AA Branch complains of non-receipt of payment on L/C Maturity date?
Please Contact the issuing Bank in India and expedite recovery?
19. LC Issuing Bank has not remitted overdue interest?

12/30/2017 65
FAQ(s)
FAQ(s) – Collections
1. We had sent export documents on collection basis. However they still
remains unpaid. Please advise?

FAQ(s) – Guarantees
1. Whether we can issue guarantee in some countries e.g. in Syria ,Iran
2. Please check with your overseas branch on the status of our guarantee issue
request.

FAQ(s) – Generic
1. Our telex is not working. Please help.
2. We do not have SWIFT BKE arrangement with the branch. Please help.
3. What are the SWIFT & TELEX Codes of AA Branches?
4. Your overseas branch is not prepared to do third party testing. Please help?
5. Whom do we approach to establish SWIFT BKE with concerned branch?

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 That’s all folks…

Thanks for your patient listening

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Questions and Queries?

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