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Letter of Credit (L/C) iB and Surat Kredit Berdokumen Dalam Negeri (SKBDN) iB

L/C iB or SKBDN iB is a payment instrument that provide security to both the seller (exporter) and the buyer (importer). The L/C iB or SKBDN iB facility provides a guarantee that payment will be made if the terms and conditions in the L/C iB or SKBDN iB for imported goods are met.

Both L/C iB and SKBDN iB utilizes Shariah contract of Kafalah bil Ujrah.

The Difference Between LC iB and SKBDN iB

L/C iB transactions are used for international trade (refer to the International Chamber of Commerce - Uniform Customs and Practice for Documentary Credit (UCP) while SKBDN iB transactions are used for domestic trade (refer to the Central Bank of Indonesia’s Regulations).

Usance Payable at Sight (UPAS)
Usance Payable at Usance (UPAU)

L/C iB atau SKBDN iB - Usance Payable at Sight (UPAS)

Financing facility by the Financing Bank to the importer (applicant) of the L/C iB / SKBDN iB with a deferred tenor (usance) issued by Maybank Indonesia whereby the importer (applicant) may settle the L/C iB / SKBDN iB when the payment date is due, whereas beneficiary of L/C iB / SKBDN iB may receive payment at sight from Financing Bank.

L/C iB atau SKBDN iB - Usance Payable at Usance (UPAU)

Is a financing facility by the Financing Bank to the importer  (applicant) of the L/C iB or SKBDN iB with a deferred tenor (usance) issued by Maybank Indonesia whereby the importer (applicant) may settle the L/C iB / SKBDN iB at the time when the notes are due, whereas beneficiary from L/C iB / SKBDN iB may receive payment at a later date (usance) with a shorter tenor than the L/C iB / SKBDN iB from Financing Bank.

Advantage of subscribing to L/C iB or SKBDN iB with Maybank Indonesia

  • Utilizes a Shariah contract of Kafalah bil Ujrah.
  • Maybank Indonesia is one of the largest banks in Indonesia with an extensive of domestic, regional and international network.
  • L/C iB or SKBDN iB opening facilities can be combined with financing in the context of import / purchase tailored to your trade cycle needs. This is given by Maybank as a business solution to help develop your business.
  • Through the TradeConnex system your trade transactions can be performed quickly and economically.
  • The importer (applicant) may immediately claim the goods from the port to carry out the production process, while the payment obligation of the L/C iB or SKBDN iB will be made at the due date of the draft / document.
  • Maybank provides a comprehensive Shariah trade finance solutions including the provision of Shariah Hedging transactions.

Trust Receipt (T/R) iB

Trust Receipt (T / R) iB is a short-term financing provided to importer for purchases of imported goods made using L/C iB or SKBDN iB issued by the Issuing Bank. Tenor of the T/R iB financing will be adjusted to your company's trade cycle to help smooth the company's cash flow.

The Shariah contracts used under T/R iB are Mudharabah, Musyarakah, Kafalah bil ujrah or any other Shariah contracts that are appropriate.

Benefits of T/R iB

  • It is a solution provided by Maybank to customers (importer) to manage the company's cash flow adjusted to the trade cycle.
  • With T/R iB, the customer may immediately claim the goods from the port and carry out the production process, while the settlement of the T/R iB obligation will be performed when the T/R iB tenor is due after receiving payment from the sale of goods produced by the customer.

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PT Bank Maybank Indonesia Tbk is a Bank licensed and supervised by OJK & Bank Indonesia and LPS. PT Bank Maybank Indonesia Tbk is a guarantee participant in the LPS. The maximum deposit guarantee value per Customer per bank is IDR2 billion. To find out the applicable LPS interest rates, please CLICK HERE

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