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Trade Finance

Trade Finance

State Bank of India, Maldives offers a wide range of products and specializes in Trade Finance. With own offices and correspondents spread across all time zones and at almost all major centers of the world, we can handle your international trade transactions with speed, efficiency and a professional touch.

Following is an indicative list of products and services

Products Offered

(DOMESTIC/INTERNATIONAL)

  • Letters of Credit (L/C):
  • Bank Guarantees (Financial/Performance/Bid Security)

Services Offered

(DOMESTIC/INTERNATIONAL)

  • Collection of Bills (Import and Export)
  • Advising of LCs (Foreign/Inland)
  • Confirmation of L/Cs (Issued by approved Banks)
  • Negotiation/Reimbursement/Discounting of Bills drawn under L/Cs
Procedures & Documents Required:

Letter of Credit (LC):

  • Eligibility: Individuals/ Firms/ Companies for import of eligible goods in Maldives
  • Documents: Application, Proforma Invoice, Indemnity, Board Resolution (for companies).
  • Security: 100% margin in the form of cash deposits / Fixed deposits (where regular facilities are not sanctioned)

Bank Guarantee (BG):

  • Eligibility: Individuals / Firms / Companies
  • Documents: Application, Indemnity, Board Resolution (for companies), documents evidencing the requirement for the guarantee and format of the guarantee to be issued
  • Security: 100% margin in the form of cash deposits / fixed deposits (where regular facilities are not sanctioned)

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