Shipping Guarantee
Product Name
Shipping Guarantee
Introduction
Shipping Guarantee refers to a written guarantee, issued by the Bank which will bear joint liability, and is presented by the Importer to the Carrier or its agent for picking up the goods in the case of arrival of cargo prior to the receipt of the Original shipping documents. Shipping Guarantee is commonly used under L/C with full set of documents of title to goods.
Features
Grasp market opportunities -- It will assist Importers in obtaining documents of title to goods, picking up and reselling goods in case of arrival of goods prior to documents.
Less financial expense -- Importers can pick up goods in time to avoid demurrage charge.
For Customers
It is applicable in the case of short shipping voyage and the goods arriving prior to the receipt of the Original shipping documents.
Application requirements
The enterprise is maintaining current account with our bank and having granted the facilities by the Bank of China (Malaysia) Berhad.
Product Disclosure Sheet
Documents Required
The customer should provide the following documents:
a. Application to Countersign Letter of Indemnity For Non-Surrender of Bill of Lading
b. Letter of Indemnity For Non-Surrender of Bill of Lading
c. The underlying trade supporting documents
