Bank of Commerce

We think Customers

Customer Service:
(02) 8-632-BANK (2265)
Domestic Toll-Free Numbers:
1800-10-982-6000 (PLDT) 1800-8-982-6000 (Globe Lines)

TRADE FINANCE

HomeTRADE FINANCE

BankCom’s Trade Services cater to a vast range of product solutions to fit every company’s needs. BankCom embraces the growing trade environment and continues to enhance its offerings for customers with innovative trade finance and supply chain solutions, with the aim to provide an efficient process for both domestic and international markets.

IMPORTS

Payment solutions provided for trade settlement of your Importation transactions.

  • Import Letter of Credit
  • Documents Against Payment (DP)
  • Documents Against Acceptance (DA)
  • Advance Payment/Open Account/Direct Remittance

 Customs Duties and Taxes (PAS6)

  • Advance Custom Duties/Taxes
  • Final Duties/Taxes
  • Export/Documentary Stamp Fees

EXPORTS

Payment solutions provided for your exportation requirements.

  •  Export Bills Purchased
  •  Export Bills for Collection

GUARANTEES

The Issuance of these instruments serve as the Bank’s commitment to pay or provide security to the Beneficiary/Seller in the event of Buyer’s default on the Agreement/Contract (eg. payment of goods and services, performance contracts, etc.)

  • Standby Letter of Credit
  • Bank Guarantees

The Issuance of the below instrument serves as the Bank’s undertaking addressed to a Carrier indemnifying the carrier to release the goods in the absence of the shipping documents.

  •  Shipping Guarantee/Shipside Bond

TRADE FINANCING

Financing used for short-term liquidity requirements.

  • Loans Against Trust Receipt (LATR)
  • Export Advances/Pre-shipment Loans

TRADE FINANCE RECEIVABLE

Trade Finance Receivable is a Supply Chain financing that provides a facility allowing BankCom to purchase the receivables of Suppliers at a discount from their Buyers.

FEES AND CHARGES

TYPE OF PRODUCT/SERVICE

 FEES AND CHARGES
XIII. TRADE TRANSACTIONS

A. Import Letters of Credit (LC)

1. LC Opening

1.1 Sight and Usance

 1.1.1 Commission of ¼ of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.

1.1.2 PHP 1,000.00 SWIFT fee (cable).

1.1.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.

1.2 Standby LC/ Guarantees

 1.2.1 Commission of ¼ of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.

1.2.2 PHP 1,000.00 SWIFT fee (cable).

1.2.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.

1.2.4 Commitment fee of 1/8 of 1% fixed or a minimum of PHP 1,000.00 whichever is higher.

2. Amendment to LC

2.1     Increase in Amount

 2.1.1 Commission of 1/8 of 1% per month or minimum of PHP 500.00 whichever is higher.

2.1.2 PHP 600.00 SWIFT fee (cable).

2.1.3 DST of P 0.60 for every PHP 200.00 or a fraction thereof on the increase.

2.2 Extension of Expiry Date

 2.2.1 Commission of 1/8 of 1% per month or minimum of PHP 500.00 whichever is higher.

2.2.2 PHP 600.00 SWIFT fee (cable).

2.3 Shipside Bond Guarantee (SSB)

 2.3.1 PHP 300.00 bank guarantee fee per transaction.

2.3.2 PHP 20.00 messengerial fee per transaction.

2.3.3 DST of PHP 0.30 for every PHP 4.00.
TYPE OF PRODUCT/SERVICE FEES AND CHARGES
2.4 Air Waybill Endorsement (AWB) 2.4.1 PHP    300.00    bank    endorsement    fee    per transaction.

2.4.2 DST of PHP 0.30 for every PHP 4.00.
2.5 Custom Duties via Project Abstract Secure version 5 (PAS5) 2.5.1 Handling fee of PHP 300.00 per transaction.

2.5.2 PHP 30.00 fee for Service Bureau.

2.5.3 PHP 50.00 PAS5 enrollment fee per transaction.
2.6 Other amendments 2.6.1 Commission of PHP 500.00.

2.6.2 PHP 600.00 SWIFT fee (cable).
3. Negotiation of Import LC

3.1 Full Payment

3.1.1 Sight LC

 3.1.1.1 PHP 600.00 SWIFT fee (cable).

3.1.2     Usance LC

 3.1.2.1 Commitment fee of ¼ of 1% per month or fraction thereof for usance period payable upon maturity of draft or usance period or a minimum of PHP 500.00 whichever is higher.

3.1.2.2 PHP 600.00 SWIFT fee (cable).

3.1.2.3 Actual charge of the correspondent bank (if any).

3.2 Booking to Trust Receipt (T/R) Loan

3.2.1 Sight LC

 3.2.1.1 PHP 600.00 SWIFT fee (cable).

3.2.1.2  DST of (a) PHP 40.00 for the first PHP 5,000.00; (b) On each PHP 5,000.00 or fractional part thereof in excess of PHP 5,000.00, an additional tax of PHP 20.00.

3.2.1.3 Actual charge of the correspondent bank (if any).

3.2.1.4 Actual charge of the notarial fee (if any).
4. Cancellation of LC 4.1 Commission of PHP 500.00.
4.2 PHP 600.00 SWIFT fee (cable).
TYPE OF PRODUCT/SERVICE FEES AND CHARGES
5. Negotiation of Open Account (OA) Arrangement, Documents against Acceptance (DA), Documents against Payment (DP)
Type of Fee Small and Medium Enterprises Large Corporates and Conglomerates
Liquidation Commission 1/16 of 1% for
the balance or
minimum of
PHP 1,000.00,
whichever is
higher		 All-in, PHP
500.00 flat fee
per transaction
Cable Fee

PHP 600.00

 Waived
DST

PHP 0.60 for
every PHP 200.00 or a
fraction thereof; or None if from FCDU

PHP0.60 for every PHP200.00 or a fraction thereof; or None if from FCDU
Reimbursement Fee Actual Fee Actual Fee
B. Domestic LC

1. LC Opening (*)

 1.1 Commission of ¼ of 1% for the first two months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.

1.2 Commitment fee of 1/8 of 1% based on face value of LC or a minimum of PHP 1,000.00 whichever is higher.
2.  Standby LC/ Guarantees (*) 2.1 Commission of ¼ of 1% for the first two months and 1/8 of 1% thereafter or a minimum of PHP 1,000.00 whichever is higher.

2.2 Commitment fee of 1/8 of 1% based on face value of LC or a minimum of PHP 1,000.00 whichever is higher.

3. Amendment to LC

3.1 Increase in Amount

 3.1.1 Commission of ¼ of 1% for the first two (2) months and 1/8 of 1% thereafter or a minimum of PHP 500.00 whichever is higher.

3.1.2 Commitment fee of 1/8 of 1% or a minimum of PHP 500.00 whichever is higher.

*No DST shall be imposed upon issuance.

TYPE OF PRODUCT/SERVICE FEES AND CHARGES

3.2 Extension of Expiry Date

 3.2.1 Commission of ¼ of 1% for the first two months and 1/8 of 1% thereafter or a minimum of PHP 500.00 whichever is higher.

3.2.3 Commitment fee of 1/8 of 1% or a minimum of PHP 500.00 whichever is higher.

3.3 Others

 3.3.1 Commission of PHP 500.00.
4. Negotiation

4.1 Sight/ Usance Domestic LC –Full Payment

 4.1.1 Commission of 1/8 of 1% or a minimum of PHP 1,000.00 whichever is higher.

4.1.2 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.

4.2 Sight/ Usance Domestic LC – Booking to (T/R)

 4.2.1 Commission of 1/8 of 1% or a minimum of P1,000.00 whichever is higher.

4.2.2 DST of PHP 40.00 for the first PHP 5,000 and PHP 20.00 for every succeeding PHP 5,000 or a fraction thereof.

4.2.3 Actual charge of the notarial fee (if any).
5.  Cancellation of LC 5.1 PHP 500.00 cancellation fee.

C. Export LC

1. Advising of LC

 1.1 Commission of PHP 1,200.00.

2. Confirmation of LC

 2.1 Commission of 1/8 of 1% per quarter or fraction thereof or a minimum of USD 100.00 converted at prevailing selling rate.

3. Amendment to LC

 3.1 Commission of USD 22.00 converted at prevailing selling rate or a minimum of PHP 500.00 whichever is higher.

3.2 PHP 600.00 SWIFT fee (if applicable).

4. Transfer of LC

 4.1 Commission of PHP 1,500.00.

4.2 PHP 1,000.00 SWIFT fee (if applicable).
TYPE OF PRODUCT/SERVICE FEES AND CHARGES
5. Negotiation of Export LC

5.1 Export Bills Purchased (EBP)

 5.1.1 Commission (Regular):

  • 1/10 of 1% or a minimum of PHP 500.00 whichever is higher.
  • 1/10 of 1% on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.

5.1.2 Commission (FCDU or in lieu of exchange):

¼ of 1% in lieu of exchange on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.

5.1.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.

5.1.4 PHP 600.00 SWIFT fee (if applicable).

5.1.5 PHP 700.00 postage fee per set of documents.

5.2 Export Bills for Collection (EBC) for credit to account of payment of loan

 5.2.1  Commission (Regular):

  • 1/4 of 1% for the first PHP 100,000.00 or PHP 250.00 whichever is higher and 1/8 of 1% for the succeeding balance or a minimum total of PHP 500.00 whichever is higher.
  • 1/10 of 1% on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.

5.2.2 Commission (FCDU or in lieu of exchange):

  • ¼ of 1% in lieu of exchange on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.

5.2.3 DST PHP 0.60 for every PHP 200.00 or a fraction thereof.

5.2.4 PHP 600.00 SWIFT fee (if applicable).

5.2.5 PHP 700.00 postage fee per set of documents.

5.3 Export Advances

 5.3.1 Commission (Regular):

  • ¼ of 1% for the first PHP 100,000.00 or PHP 250.00 whichever is higher and 1/8 of 1% for the succeeding balance or a minimum total of PHP 500.00 whichever is higher.
  • 1/10 of 1% on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.
TYPE OF PRODUCT/SERVICE FEES AND CHARGES
5.3.2 Commission (FCDU or in lieu of exchange):

  • ¼ of 1% in lieu of exchange on amount to be credited to account/loan or a minimum of PHP 500.00 whichever is higher.

5.3.3 DST of PHP 0.60 for every PHP 200.00 or a fraction thereof.

5.3.4 PHP 600.00 SWIFT fee (if applicable).

5.3.5 PHP 700.00 postage fee per set of documents.
D. Others

1. Bank     Certification     (Import/ Export Related Transactions)

 1.1 PHP 300.00 service fee per issuance.

2.  Bank Authentication

 2.1 PHP 100.00 service fee per issuance.

 

CONTACT US

For inquiries on BankCom Trade’s products and services, please do not hesitate to contact us at  tbgtrade@bankcom.com.ph.