Imports

  1. Issuance of letter of credit for customers where limits are sanctioned.
  2. Various fund based facilities such as Advances under Trust Receipts and issuance of guarantees for customers where limits are sanctioned.
  3. Receipt of bills on collection from various banks on Account of Customers.

Finance/Services to Importers

  1. Collection of Import Bills:
    UCO has correspondent relationship with reputed International Banks throughout the world and can thus provide valuable services to importers who may be importing from any part of the Globe. The import bills are collected by us at very competitive rates.
  2. Letter of Credit:
    • On account of UCO’s presence in international market for decades, UCO has established itself as a well known international bank. L/Cs of UCO are well accepted in the International market. For any special requirement UCO can get the L/C confirmed by the top international banks.
    •  Thus UCO’s L/C facility for the purchase of goods/services etc. fulfills the requirements of all importers to arrange a reliable supply. UCO uses state of the art SWIFT network to transmit L/Cs and with a worldwide network of correspondents and our overseas branches facilitates prompt & efficient services to the importers.
    • L/C facility is granted to the importers on satisfying credit exposure norms of the Bank.
  3. Financing of import
    Usance L/C facility
    UCO’s Usance L/C facility provides the importer an opportunity to avail credit from their supplier/supplier’s bank.   
    Bank   Guarantees
    UCO, on behalf of importer constituents or other customers, issues guarantees in favour of beneficiaries abroad. The guarantees may be both Performance and Financial.
    Deferred Payment Guarantee/Standby LC
    UCO’s Deferred Payment Guarantee/Standby LC facility also provides the importer an opportunity to avail credit from their supplier/supplier’s bank.
SCHEDULE OF CHARGES FOR IMPORT DEPARTMENT
LC (DP)LC (DA-USANCE)
USDHKDUSDHKD
1. Charges at the time of issue of LC (DP/DA)COMMISSION0.25% ON 1ST USD 50,000
0.125% ON BALANCE
Min. USD 26
0.25% ON 1st HKD 400,000
0.125% ON BALANCE.
Min. HKD 200
0.25% ON 1st USD 50,000
0.125% ON BALANCE
Min. USD 26
0.25% ON 1ST HKD 400,000
0.125% ON BALANCE
Min. HKD 200
SwiftUSD 65HKD 500USD 65HKD 500
POSTAGE / Courier Charges(varies depending upon the weight of the documents and also destination)AS APPLICABLEAS APPLICABLEAS APPLICABLEAS APPLICABLE
2. Charges for ammendments: (in case increase in amount is involved)COMMISSION **0.25% ON 1st HKD 400,000
0.125% ON BALANCE (incremental portion)
Min. HKD 200
As Applicable. For DA Bills,Interest is taken upfront for the entire period. For DP Bills, Interest is taken at the time of repayment 0.25% ON 1st USD 50,000
0.125% ON BALANCE (incremental portion)
Min. USD 26
0.25% ON 1ST HKD 400,000
0.125% ON BALANCE (incremental portion)
Min. HKD 200
SwiftUSD 26HKD 200USD 26HKD 200
POSTAGE / Courier Charges(varies depending upon the weight of the documents and aslo destination)AS APPLICABLEAS APPLICABLEAS APPLICABLEAS APPLICABLE
** For the purpose of determining the slab for commission i.e. 0.25% or 0.125% the total LC Value is considered (i.e. Original + Increased)