An online platform, first of its kind that lets you take instant Buyers credit quotes service directly from foreign lenders thus obviating the need for intermediaries. As buyer’s credit arrangers in India, we aid you to acquire import finance which results in quicker response time, lower interest rates, minimal arrangement fee and better convenience to execute your import transactions.
Yes. As per the latest Master Circular on Trade Credits the all in ceiling cost for a Buyers credit transaction is 6 Month Libor + 350 bps. All in ceiling cost included lenders spread, arrangement fee, handling fee, out of pocket expenses. It doesn’t include LOU Issuance charges.
Refer Master circular: https://www.rbi.org.in/scripts/BS_ViewMasCirculardetails.aspx?id=8101
Well, once the requirement is identified by the Importer, they approach their bank or consultant seeking an offer on interest rates. Once Importer is ok with the interest rates of the foreign lender, the lender issues an Offer letter which is submitted to the bank along with the other relevant document for the bank to issue LOU.
Now, the importers bank issues LOU to the foreign lender basis which the lender funds the NOSTRO account of the importers bank. Then, the importers bank can use those funds to make the payment to the importers supplier on the due date.
Association with more than 85+ foreign lenders makes us market leader of the industry ensuring most competitive buyer’s credit quotes always. Our seamless systems offer integration with different time zone lenders, thus offering round the clock offer letters and nostro funding for your business.