- Discounting of bill under letters of credit issued by various banks of good market standing as per Banker’s Almanac – for customers.
- Purchase of bills for those customers where Limits are sanctioned.
- Sending bills on collection basis for customers to various banks.
Types of Facilities for Exports
- Negotiation of Bills under L/C
UCO Bank is active in negotiation/discounting of sight / usance international export bills under L/Cs opened by foreign banks as well as branches of Indian banks abroad. UCO offers the most competitive rates. These transactions are undertaken by our branches within the Bank/Country Exposure ceilings prescribed by UCO.
- Export Bill Rediscounting:
UCO provides financing of export by way of discounting of export bills, as a post shipment finance to the exporters at competitive international rate of interest. This facility is available in four currencies i.e. US$, Pound Sterling, Euro and JPY.Exporters can avail this facility from UCO to cover the bills drawn under L/C as well as other export bills.
- Bank Guarantees:
UCO, on behalf of exporter constituents, issues guarantees in favour of beneficiaries abroad. The guarantees may be Performance and Financial. For Indian exporters, guarantees are issued in compliance to RBI guidelines.
SCHEDULE OF CHARGES FOR EXPORT DEPARTMENT
|CHARGES at the time of Lodgement/ Purchase / Negotiation||For PURCHASE/ NEGOTIATION of Bills (UNDER LC as well as NOT UNDER LC)||For Bills Sent on COLLECTION
|USD||HKD||Same for USD / HKD
|COMMISSION||USD 40||HKD 320||
|POSTAGE / Courier Charges(varies depending upon the weight of the documents and also destination)||AS APPICABLE||AS APPICABLE||AS APPICABLE
|SWIFT (In case swift is required to be sent for Bills under LC to report discrepancy or for acceptance/ due date confirmation)||Min USD 26 for each swift msg||Min HKD 200 for each swift msg||
|INTEREST||As Applicable. For DA Bills,Interest is taken upfront for the entire period. For DP Bills, Interest is taken at the time of repayment ||As Applicable. For DA Bills, Interest is taken upfront for the entire period. For DP Bills, Interest is taken at the time for repayment||
|CHARGES at the time of Realisation of Export Bills : COMMISSION IN LIEU OF EXCHANGE||0.125% flat in case the proceeds are credited to USD Call A/c of the party concerned. This is not charged in case the proceeds are converted to HKD and credited to the HKD Current A/c of the party.||This is not charged in case of HKD bills as preoceeds are received in HKD.|| a. No charged for HKD Bills. B. In case of non HKD Bill, 0.125% flat in case the proceeds are credited t0 USD Call A/c of the praty concerned. This is not charged in case the proceeds are converted to HKD and credited to the HKD Current A/c of the party.
|Advising of Inward DC: Comm. Charged in USD 45 or HKD 350 depending upon the currency of the DC.
|For Buyers Credit:
a. Interest is taken at the time of repaymnet.
b. Provision to be kept for charging Handling Charges which is taken in some cases.
c. Provision for rollover under the same account and repricing of interest also to be kept.