L/C (Letter of Credit)

L / C is an instrument issued by a bank in the name of one of its customers, which authorizes a person or company that receives the instrument to withdraw money orders on the bank concerned or on one of its correspondent banks for interests, based on  the conditions / requirements stated on the instrument.

  • The functions of L / C are as follows :
    1. It is an agreement of banks in completing international commercial transactions.
    2. Providing safeguards for parties involved in transactions conducted.
    3. Ensure payment as long as the L / C requirements are fulfilled.
    4. It is an instrument based only on documents and not on merchandise or services.
    5. Helping issuing banks provide financing facilities to importers and monitor their use.
  • L/C (LETTER OF CREDIT) Import
    Requirements:
    1. Having Current Account at Bank Jatim
    2. Completeness of documents:
      • Copy of Company Establishment Deed and Amendments
      • Copy of Company Establishment Ratification Letter from the Ministry of Law and Human Rights of the Republic of Indonesia
      • Copy of SIUP / Trading Business License
      • Copy of NPWP / Taxpayer Identification Number
      • Copy of TDP / Company Registration Certificate
      • Example of the original signature of the applicant / applicant in the form provided
      • Copy of API / Import Identification Number or APIT / Limited Import Identification Number copy
      • Copy of special permit related to traded goods (if imported goods are goods specifically regulated by the government)
      • Other Fees: Competitive 
    3. Transaction Facilities for Customers who have a Credit Facility or Guarantee Deposit for Customers who do not have a Credit Facility of at least 100% of the Import L / C value in the same currency
  • L/C (LETTER OF CREDIT) Eksport
    Requirements :
    1. Having Current Account at Bank Jatim
    2. Receive Export L / C along with amendments (if any) in the form of letters / mail or via SWIFT teletransmission
    3. Export documents can be negotiated or carried out billing on collection in accordance with applicable regulations.
    4. Other Fees: Competitive