DOCSLIB.ORG

Trade Finance Tariff 1

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Trade Finance Tariff 1 TRADE FINANCE TARIFF ANNEXURE – II Facility Clients Letters of credit-Sight 0.35% p.q. Prior notice to RMV Rs. 3,000.00 per vehicle Each additional 30 days or part thereof.(Validity of LC) add 0.125% p.m. Minimum Commission Rs. 9,000.00 Cheque Return Charges Rs. 750.00 per Cheque (Post dated Cheques) Letters of Credit-Usance 0.5% p.q. Each additional 30 days or Inspection of vehicles Actual Expences part thereof. add 0.125% p.m. (In case of distinctive visits (Transport Cost and (Tenor plus Validity of LC) concluded for some reason Other Expences) Minimum Commission Rs. 9,000.00 or other) Plus Rs. 2,500.00 Swift charges Rs. 3,000.00 per LC Documentation Charges Rs. 3,500.00 per LC Loading / unloading of goods Rs. 2,500.00 per hour Under supervision by an officer, Bill settlement charges Rs. 4,000.00 per Bill Usance bill acceptance commission 0.5% on invoice value Pay Order/ Online payment Charges Rs. 600.00 per Payment Minimum Rs. 5,000.00 Vehicle Clearing Charges Swift Charges Rs. 1,500.00 L P S Freighters Rs. 21,000.00 per vehicle Amendments to N. R. International Rs. 17,000.00 per vehicle 0.35% p.q. or 0.5% p.q. Letters of Credit - Ace Cargo Rs. 16,000.00 per vehicle Value Enhancements Whichever is applicable. Rs. 5,000.00 Minimum Commission Handling Charges for 0.1% on total loan value. Extension of validity - Add 0.125% Commodity Imports over 3 months For each Additional (DP/LC) Documents Minumum Rs. 5,000.00 30 days or part there of brought from other banks Maximum Rs. 15,000.00 Minimum Commission Rs. 4,500.00 Extension of validity - Handling charges for Commodity Rs. 1,000.00 per release within 3 months Rs. 4,500.00 Stock releases Any other amendments Rs. 4,500.00 Inspection of vehicles Rs. 2,500.00 per Swift Charges (Vehicle pledge loans) visit For each Amendments - Rs. 2,500.00 Handling Charges for Rs. 7,500.00 flat Vehicle Pledge Loan (VPL) per request Substitution of documents Rs. 7,500.00 . (document with a higher Per document Handling Charges for documents Rs. 10,000.00 per document. value must be produced) taken away without obtaining (However, Sole Discretion of the Trade Finance facilities, Management) but LC established by FFL. Import bills collected Rs. 5,000.00 from other banks - Per Document All Bank charges not specified Add 20% to the actual in Trade Finance Tariff and bank charges, Endorsements for 0.5% on invoice value in case of increase over and Shipping Guarantees above the Spcific charges. Minimum Rs. 5,000.00 Outstanding over 30 days Rs. 6,500.00 per month Handling charges, for Rs. 7,500.00 per requirment Reimbursement of Import Bills /Customs Duty settled by the client. Cancellation of letters of credit Rs. 5,000.00 (Within 70% of the landed cost.) Note: commission/swift charges and Documentation charges will not be refunded. Air Shipments Rs. 5,000.00 (endorsement of copy Documents in the abscence of Original Import documents.) Swift Charges Rs. 2,500.00 Stock Inspection at client’s Rs. 2,500.00 Discrepant documents Rs. 4,000.00 per document Warehouse by an officer Per hour Kindly be advised that the Management of Fintrex Finance Limited,reserves the right to revise the above charges as and when deemed necessary. Further, this Tariff will be applied to all Facility Clients from 1st of December 2020.
Load more

Recommended publications
  • Improving the Availability of Trade Finance During Financial Crises
    Improving the Availability of Trade Finance during Financial Crises Marc Auboin* Counsellor, Trade and Finance Division, WORLD TRADE ORGANIZATION and Moritz Meier-Ewert* PRINCETON UNIVERSITY * We are grateful to representatives of the ADB and EBRD, in particular Martin Endelman. Gratitude is also expressed to Richard Eglin and Patrick Low, Directors at the WTO, and Jesse Kreier, Counsellor, for their very useful comments. This paper is only available in English – Price CHF 20.- To order, please contact: WTO Publications Centre William Rappard 154 rue de Lausanne CH-1211 Geneva Switzerland Tel: (41 22) 739 5208/5308 Fax (41 22) 739 57 92 Website: www.wto.org E-mail: [email protected] ISSN 1726-9466 ISBN 92-870- 1238-5 Printed by the WTO Secretariat XI- 2003, 1 ,000 © World Trade Organization, 2003. Reproduction of material contained in this document may be made only with written permission of the WTO Publications Manager. With written permission of the WTO Publications Manager, reproduction and use of the material contained in this document for non-commercial educational and training purposes is encouraged. WTO Discussion Papers are presented by the authors in a personal capacity and should not in any way be interpreted as reflecting the views of the World Trade Organization or its Members. ABSTRACT An analysis of the implications of recent financial crises affecting emerging economies in the 1990's points to the failure by private markets and other relevant institutions to meet the demand for cross-border and domestic short-term trade-finance in such periods, thereby affecting, in some countries and for certain periods, imports and exports to a point of stoppage.
    [Show full text]
  • Wolfsberg Group Trade Finance Principles 2019
    Trade Finance Principles 1 The Wolfsberg Group, ICC and BAFT Trade Finance Principles 2019 amendment PUBLIC Trade Finance Principles 2 Copyright © 2019, Wolfsberg Group, International Chamber of Commerce (ICC) and BAFT Wolfsberg Group, ICC and BAFT hold all copyright and other intellectual property rights in this collective work and encourage its reproduction and dissemination subject to the following: Wolfsberg Group, ICC and BAFT must be cited as the source and copyright holder mentioning the title of the document and the publication year if available. Express written permission must be obtained for any modification, adaptation or translation, for any commercial use and for use in any manner that implies that another organization or person is the source of, or is associated with, the work. The work may not be reproduced or made available on websites except through a link to the relevant Wolfsberg Group, ICC and/or BAFT web page (not to the document itself). Permission can be requested from the Wolfsberg Group, ICC or BAFT. This document was prepared for general information purposes only, does not purport to be comprehensive and is not intended as legal advice. The opinions expressed are subject to change without notice and any reliance upon information contained in the document is solely and exclusively at your own risk. The publishing organisations and the contributors are not engaged in rendering legal or other expert professional services for which outside competent professionals should be sought. PUBLIC Trade Finance Principles
    [Show full text]
  • Trade-Based Money Laundering: Trends and Developments
    Trade-Based Money Laundering Trends and Developments December 2020 The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard. For more information about the FATF, please visit www.fatf-gafi.org This document and/or any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The goal of the Egmont Group of Financial Intelligence Units (Egmont Group) is to provide a forum for financial intelligence unites (FIUs) around the world to improve co-operation in the fight against money laundering and the financing of terrorism and to foster the implementation of domestic programs in this field. For more information about the Egmont Group, please visit the website: www.egmontgroup.org Citing reference: FATF – Egmont Group (2020), Trade-based Money Laundering: Trends and Developments, FATF, Paris, France, www.fatf-gafi.org/publications/methodandtrends/documents/trade-based-money-laundering-trends-and- developments.html © 2020 FATF/OECD and Egmont Group of Financial Intelligence Units. All rights reserved. No reproduction or translation of this publication may be made without prior written permission. Applications for such permission, for all or part of this publication, should be made to the FATF Secretariat, 2 rue André Pascal 75775 Paris Cedex 16, France (fax: +33 1 44 30 61 37 or e-mail: [email protected]) Photo credits cover photo ©Getty Images TRADE-BASED MONEY LAUNDERING: TRENDS AND DEVELOPMENTS | 1 Table of Contents Acronyms 2 Executive summary 3 Key findings 3 Conclusion 5 Introduction 7 Background 7 Purpose and report structure 8 Methodology 10 Section 1.
    [Show full text]
  • ADB's Trade and Supply Chain Finance Program (TSCFP) Fact Sheet
    ADB’S TRADE AND SUPPLY CHAIN FINANCE PROGRAM (TSCFP) PROVIDES GUARANTEES AND LOANS TO PARTNER BANKS IN SUPPORT OF INTERNATIONAL TRADE Port of Suva is Fiji’s main container and multipurpose port facility. It is the principal gateway for the country’s international trade (photo by ADB). WHAT WE DO: 2020 BY NUMBERS: Fill market gaps for trade $5.8 Value of transactions supported and supply chain finance. billion 2009–2020: $47.5 billion Provide guarantees and loans to banks to support trade. $2.96 Cofinancing billion 2009–2020: $28.1 billion Support a wide range of transactions: commodities, capital 7,187 Number of transactions supported and consumer goods. 2009–2020: 33,093 Create knowledge products, services and solutions to close 2,114 SME transactions supported market gaps. 2009–2020: 21,713 TRADE FINANCE SUPPLY CHAIN FINANCE Financial Products Financial Products Guarantee Products Pre-Shipment Finance 1. Credit Guarantee: provides capital to pay Covers up to 100% of bank risk; provided suppliers up front for verified within 24-48 hours purchase orders. 2. Risk Participation Agreement: Automatically binds TSCFP up to 85% Post-Shipment Supplier Finance funds suppliers upon the delivery and Funded Projects acceptance of goods. 1. Revolving Credit Facility: Loans to banks to support pre- and post- Distributor Finance shipment transactions financing for distributors to cover 2. Funded Risk Participation Agreement: purchase of goods for resale. Automatically binds the TSCFP for up to 85% of bank risk in support of funded trade transactions
    [Show full text]
  • Trade Finance Guide
    Trade Finance Guide A Quick Reference for U.S. Exporters Trade Finance Guide: A Quick Reference for U.S. Exporters is designed to help U.S. companies, especially small and medium-sized enterprises, learn the basic fundamentals of trade finance so that they can turn their export opportunities into actual sales and to achieve the ultimate goal of getting paid—especially on time—for those sales. Concise, two-page chapters offer the basics of numerous financing techniques, from open accounts, to forfaiting to government assisted foreign buyer financing. TRADE FINANCE GUIDE Table of Contents Introduction ................................................................................................................................................1 Chapter 1: Methods of Payment in International Trade..............................................................3 Chapter 2: Cash-in-Advance .............................................................................................................5 Chapter 3: Letters of Credit ..............................................................................................................7 Chapter 4: Documentary Collections .............................................................................................9 Chapter 5: Open Account............................................................................................................... 11 Chapter 6: Consignment ................................................................................................................ 13 Chapter
    [Show full text]
  • 2020 Icc Global Survey on Trade Finance B 2020 Icc Global Survey on Trade Finance in This Report
    ICC GUIDING DRIVING BANKING INTERNATIONAL CHANGE IN COMMISSION BANKING PRACTICE TRADE FINANCE 2020 ICC GLOBAL SURVEY ON TRADE FINANCE B 2020 ICC GLOBAL SURVEY ON TRADE FINANCE IN THIS REPORT About the International Chamber of Commerce 2 Acknowledgements 4 Introduction 6 Foreword 6 State of trade: tension, transition, and turning point 8 Introduction to the Global Survey 10 Key findings of the Global Survey and the COVID-19 Survey 12 Market Outlook on Trade Finance: COVID-19 and Beyond 15 Survey analysis 15 Scenario analysis on the impact of COVID-19 on trade finance 22 The economic impact of COVID-19 on supply chains 25 COVID-19 Survey analysis 31 SWIFT Trade Traffic: the year in review 39 TXF on Export Finance 50 Supply Chain Finance 57 Survey analysis 57 Supply chain finance: evolution or implosion? 62 Sustainability 64 Survey analysis 64 ICC: accelerating progress on sustainable trade finance 68 Regulation and Compliance 71 Survey analysis 71 Regulations in a digital world 77 Stronger together: combatting trade-based money laundering 81 Combating money laundering: improving systems, enabling trade 83 Digitisation 85 Survey analysis 85 Digital trade and COVID-19: maintaining the crisis-driven momentum 93 Financial Inclusion 98 Survey analysis 98 SMEs and the trade finance gap: it’s a data problem... 104 How to increase the professionalisation of trade finance 106 Successors in Trade: “Is it time to isolate or time to reach out?” 108 Mind the gap: why we need to think about small exporters 114 2020 ICC GLOBAL SURVEY ON TRADE FINANCE 1 ABOUT THE INTERNATIONAL CHAMBER OF COMMERCE The International Chamber of Commerce (ICC) is the institutional representative of more than 45 million companies in over 100 countries.
    [Show full text]
  • Trade Finance and Smes
    Trade finance and SMEs Bridging the gaps in provision Cover photo: Makaibari Tea Estate factory in Kurseong, Darjeeling. Trade finance and SMEs Bridging the gaps in provision Disclaimer This publication and any opinions reflected therein are the sole responsibility of the WTO Secretariat. They do not purport to reflect the opinions or views of members of the WTO. Contents Foreword by WTO Director-General Roberto Azevêdo 4 Summary 6 Introduction 8 Chapter 1 – Trade finance in brief 10 Chapter 2 – The importance of trade finance 14 Chapter 3 – Quantifying the financing gap in developing 20 countries Chapter 4 – Current efforts to address trade finance 28 issues in developing countries Recommendations 36 Bibliography 38 Abbreviations 40 TRADE FINANCE AND SMES | 3 Foreword by WTO Director-General Roberto Azevêdo The availability of finance is essential for a The availability of trade finance is often cited healthy trading system. Today, up to 80 per cent by businesses around the world – particularly of global trade is supported by some sort of SMEs – as a major barrier to their capacity financing or credit insurance. However, there are to trade. We should hear this call and act significant gaps in provision and therefore many to improve provision. Indeed, I believe that companies cannot access the financial tools there are a number of steps we can take. that they need. Without adequate trade finance, opportunities for growth and development This report looks at these issues in detail. are missed; businesses are deprived of It brings together recent surveys and the fuel they need to trade and expand.
    [Show full text]
  • Federated Hermes Project and Trade Finance Tender Fund
    Prospectus May 31, 2021 Federated Hermes Project and Trade Finance Tender Fund Investment objective. Federated Hermes Project and Trade Finance Tender Fund (the “Fund”) commenced operations on December 7, 2016, and is a continuously offered, non-diversified, closed-end management investment company. The Fund’s investment objective is to provide total return primarily from income. The Fund pursues its investment objective primarily by investing in trade finance, structured trade, export finance, import finance, supply chain financing and project finance assets of entities, including sovereign entities (“trade finance related securities”). Trade finance related securities will be located primarily in, or have exposure to, global emerging markets. Trade finance transactions refer to the capital needed to buy or sell, import or export, products or other tangible goods. Project finance transactions are typically used to build something tangible or to expand existing plant capacity to produce more goods for trade; and the Fund typically invests in project finance deals when the project has been largely completed and goods are being produced for export (i.e., transactions are of a short-term nature). No assurance can be given that the Fund’s investment objective will be achieved. As of January 1, 2021, paper copies of the Fund’s shareholder reports will no longer be sent by mail. Instead, the reports will be made available on FederatedInvestors.com/FundInformation, and you will be notified and provided with a link each time a report is posted to the website. You may request to receive paper reports from the Fund or from your financial intermediary, free of charge, at any time.
    [Show full text]
  • How to Access Trade Finance: a Guide for Exporting Smes Geneva: ITC, 2009
    HOW TO ACCESS TRADE FINANCE A GUIDE FOR EXPORTING SMEs USD 70 ISBN 978-92-9137-377-2 EXPORT IMPACT FOR GOOD United Nations Sales No. E.09.III.T.12 © International Trade Centre 2009 The International Trade Centre (ITC) is the joint agency of the World Trade Organization and the United Nations. ITC publications can be purchased from ITC’s website: www.intracen.org/eshop and from: Street address: ITC, 54-56, rue de Montbrillant, ᮣ United Nations Sales & Marketing Section 1202 Geneva, Switzerland Palais des Nations CH-1211 Geneva 10, Switzerland Postal address: ITC, Fax: +41 22 917 00 27 Palais des Nations, E-mail: [email protected] (for orders from Africa, Europe and the Middle East) 1211 Geneva 10, Switzerland and Telephone: +41-22 730 0111 ᮣ United Nations Sales & Marketing Section Room DC2-853, 2 United Nations Plaza Fax: +41-22 733 4439 New York, N.Y. 10017, USA (for orders from America, Asia and the Far East) Fax: 1/212 963 3489 E-mail: [email protected] E-mail: [email protected] Internet: http://www.intracen.org Orders can be placed with your bookseller or sent directly to one of the above addresses. HOW TO ACCESS TRADE FINANCE A GUIDE FOR EXPORTING SMEs Geneva 2009 ii ABSTRACT FOR TRADE INFORMATION SERVICES 2009 F-04.03 HOW INTERNATIONAL TRADE CENTRE (ITC) How to Access Trade Finance: A guide for exporting SMEs Geneva: ITC, 2009. x, 135 p. Guide dealing with the processes involved in obtaining finance for exporting SMEs – explains the credit process of financial institutions from pre-application to loan repayment; examines the SME sector and barriers to finance, as well as the risks in lending to the SME sector as perceived by financial institutions; addresses SMEs’ internal assessment of financial needs, determining the right financing instruments, and finding the appropriate lenders and service providers; discusses how to approach and negotiate with banks; tackles cash flow and risk management issues; includes examples of real-life business plans and loan requests; includes bibliography (p.
    [Show full text]
  • Wealth Solutions (Business Clients)
    Wealth Solutions (Business Clients) PRIORITIES POTENTIAL SOLUTIONS q Multi-currency Transactional Banking q Income Protector Insurance (Plan) q Property and Asset Financing q Lending Solutions Build The q Offshore Banking Business q Trade Finance q Forex Trading q Business Current Account q Group Retirement Schemes q Vehicle and Asset Finance q Business Overdrafts q Business Revolving Credit q Medical Insurance for Corporate Employees Run The q MoneyGram q Corporate Travel Insurance Business q Trade Finance q Marine Insurance q Africa China Business Center q Motor Insurance q Insurance Premium Financing q Combined Business Solutions q Foreign Exchange q Business Call Account q Equity Fund q Fixed Deposit Account q Money Market Fund q Offshore Investments q Balanced Fund Grow The q Trade Finance q Bond Fund Business q Custody Services q Real Estate Investment Fund q Umbrella Individual Pension Plans q Pension & Insurance Fund Management q Property Asset Management q Private Equity & Alternative Investments q Stockbroking q Equity Fund q Offshore Accounts q Money Market Fund q Balanced Fund q Bond Fund Impact The q Real Estate Investment Fund World q Umbrella Individual Pension Plans q Pension & Insurance Fund Management q Property Asset Management q Private Equity & Alternative Investments q Group Funeral Assurance q Public Liability Insurance q Group Life Insurance q Employer’s Liability Insurance q Small and Medium Enterprise Life q Work Injury Benefits Protect The Insurance q Medical Insurance for Corporate Employees Business q Group
    [Show full text]
  • Trade Finance in Periods of Crisis: What Have We Learned in Recent Years?
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Auboin, Marc; Engemann, Martina Working Paper Trade finance in periods of crisis: What have we learned in recent years? WTO Staff Working Paper, No. ERSD-2013-01 Provided in Cooperation with: World Trade Organization (WTO), Economic Research and Statistics Division, Geneva Suggested Citation: Auboin, Marc; Engemann, Martina (2013) : Trade finance in periods of crisis: What have we learned in recent years?, WTO Staff Working Paper, No. ERSD-2013-01, World Trade Organization (WTO), Geneva, http://dx.doi.org/10.30875/4671c912-en This Version is available at: http://hdl.handle.net/10419/80075 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open
    [Show full text]
  • Trade Finance and Services
    Comptroller’s Handbook A-TFS Safety and Soundness Capital Asset Sensitivity to Other Adequacy Quality Management Earnings Liquidity Market Risk Activities (E) (L) (C) RESCINDED(A) (M) (S) (O) Trade Finance and Services Version 1.0, April 2015 This document and any attachments are replaced by version 1.1 of the booklet of the same title publishedOffice October of the 2018. Comptroller of the Currency Washington, DC 20219 Version 1.0 Contents Introduction ..............................................................................................................................1 Overview ....................................................................................................................... 1 Trade Finance................................................................................................................ 3 Letters of Credit ...................................................................................................... 3 Guarantees............................................................................................................... 6 Acceptances ............................................................................................................ 6 Open Account Financing ........................................................................................ 7 Export Credit Programs .......................................................................................... 8 Other Specialized Trade Financing ......................................................................... 9 Financial
    [Show full text]