Collections & Buyer’s/ Supplier’s Credit
SBI SA undertake both Export and Import collection for bills.
Export Collections (Outward Bills) are sent on behalf of exporters to importer’s bank for realising proceeds. Exporters can instruct the bank to deliver documents either against acceptance or payment by the importer.
Import Collections (Inward Bills) are sent to the Bank by the overseas exporter for receiving payments under the bill.
SBI SA offer short term finance to importers, in US Dollars, against Letter of Undertaking of our Branches and other major banks.
SBI SA can arrange credit for the importers who have opened Letter of Credit through their bank under usance terms. SBI SA discount the bill (drawn under Letter of Credit) submitted by the supplier and the supplier gets the funds immediately. SBI SA offer such credits against LCs of our Branches and other major banks.