Loan secured by Export LC (Forfaiting)

Service condition

Terms and Conditions
Loan type	Loan	Credit line
Loan amount	Up to 60% of the shipment of goods amount	Finance up to 60% of the shipment value, with loan limits determined by the highest contract amount completed in the past year.
Interest rate	MNT-1.5%-1.6% /monthly/ USD, EUR, CNY-1.1%-1.2% /monthly/ The interest rate depends on the credit rating of the bank issuing the letter of credit. In the case of a guaranteed letter of credit, it depends on the credit rating of the confirming bank. Loans disbursed within credit line will have different interest rates depending on the rating of the bank issuing the letter of credit
Interest rate	-	Commitment rate-2.5%-3.0%
Loan term	Up to 12 monts /depends on the terms of the LC/
Collateral	The LC’s income will be pledged as collateral. Additionally, other sources of income can be pledged as collateral. (Expected income, account income, etc.)

Requirement

Requirements	Pre-shipment	Receipt of Export LC be issued at the bank; A proven record of supplying goods or services between the parties on more than one occasion or having successfully completed a trade contract. This includes providing shipping documents, commercial invoices, certificates of origin, timely payment receipts, and other relevant documents necessary for analysis. The documents specified in the export letter of credit, other than a shipping document, have been completed and are valid; A shipment contract has been concluded or a quote has been received; Other additional requirements.
Requirements	Post shipment	A receipt of a SWIFT message from the bank issuing the letter of credit; A trade agreement must be concluded; The goods must be shipped; Other additional requirements.

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