Letter of Credit-i


What is Letter of Credit-i?


Being a trading company or manufacturing outfit, purchases are normally on cash basis or with a limited credit line and period granted by the suppliers. A Letter of Credit would always be used as a payment term for overseas and local purchase.

Securing a bank facility for Letter of Credit is never easy. Even if a company is able to secure a facility, the terms can be unsettling. For a Letter of Credit, an upfront security deposit of up to 40% of the LC amount would normally be required. For any overdraft or term loan, a sinking fund would also be part of the terms and conditions which may take up the company’s remaining cash flow.

At IFSB, we provide professional assistance with regards to credit control, collection and sales accounting. Our tailored solutions can match the financial requirements, and we will work closely with you to meet specific financial goals or needs for your business.

Letter of Credit-i 1

What You Need
to Know

With decades of experience serving companies in a range of industries and solutions, dealing with suppliers all around the world, we have the know-how to be the right choice for overseas and domestic purchases. We offer trade line solutions tailored to meet your specific needs. Our rates are competitive with flexible terms, and initial approval process is fast.

Our team of experienced and dedicated finance specialists can advise and provide you with access to the best funding solutions for your business.

Application Process

Here’s How You Can Obtain A Letter Of Credit-i From Us

Connect With Us
Receive written confirmation (Letter of Offer, Letter of Award, signed contract) from the government on award of project.
Identify supplier, who would then issue a Proforma Invoice.
Submit to Government
Prepare a signed copy of Arahan Pembayaran. The document should be signed by a government officer.
Submit to IFSB
Compile the following documents and submit to IFSB.
  • Letter of Indemnity
  • Original Letter of Offer (LO)
  • Proforma Invoice
  • Arahan Pembayaran – signed by a government officer
  • IFSB’s Letter of Credit application form
Receive Letter of Credit-i
IFSB will issue the Letter of Credit to you within three working days*.

Scroll to the right to know more.

*Subject to completion of all documents submitted. Terms and conditions apply.

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Copyright © 2022 Ikhtiar Factoring Sdn Bhd (507971-X)
Copyright © 2022
Ikhtiar Factoring Sdn Bhd (507971-X)


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