Letter of Credit-i

What is Letter of Credit-i?

A Letter of Credit is a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount. IFSB provides such a service, particularly to businesses who does international trade.

Due to the nature of international dealings (such as differing laws in each country), the use of letters of credit is an important aspect if your business does international trade. It is also a way to obtain short-term finance as it is a strong and reliable collateral, given that the recovery rate is close to 100%.

More about Factoring-i

Factoring financing is a great solution if you are seeking the financial stability that you need to improve your company’s credit score. With factoring, you are not incurring any more debt, but instead you are selling your valuable asset to us. We will handle collections on your customer invoices, helping you to save time and resources. Furthermore, you get to choose which invoices to factor and how often.

Application process

1

Connect with us

Receive written confirmation (Letter of Offer, Letter of Award, signed contract) from the government on award of project.

2

Preparation

Identify supplier, who would then issue a Proforma Invoice.

3

Submit to government

Prepare a signed copy of Arahan Pembayaran. The document should be signed by a government officer.

4

Submit to IFSB

Compile the following documents and submit to IFSB.

5

Received payment

IFSB will issue the Letter of Credit to you within three working days*

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

Registration form

Fill up the form below to learn how a Letter of Credit from IFSB can help your business.

Factoring-i

Factoring financing is a great solution if you are seeking the financial stability that you need to improve your company’s credit score. We will handle collections on your customer invoices, helping you to save time and resources. 

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