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Shipping Guarantee-i (SG-i)
A guarantee issued by the Bank to a shipping company or agent on behalf of the importers for the clearance of purchased goods in the absence of the original Bill of Lading, under the Shariah concept of Kafalah.
Features
Issued against documents drawn under the Bank's own Letter of Credit-i (LC-i).
Commission as low as 0.1% flat or minimum RM50.00.
Redemption of SG-i shall be within 30 days upon its issuance.
Benefits
Efficient Clearance of Cargo
Allows you to take possession of the goods faster, while pending arrival of shipping Bill of Lading.
Save on Port Charges
Massive savings on port charges or demurrage fees due to extended storage of goods.
Peace of Mind
The facility is governed by globally-recognised rules issued by the International Chamber of Commerce.
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Endorsement on your original transport document to
allow faster clearance of goods before the complete set of import documents is received.
A written undertaking by the Bank issued on behalf of a buyer guaranteeing payments to a seller against presentation of necessary trading documents.
Collection handling of foreign and domestic inward documents for buyer/importer and trade settlement on terms agreed with supplier/exporter.
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