Business > Trade Finance
Trade Finance
LCi / BGi Express Application Checklist
 
A. Customer Preliminary Checklist
1. Current Account opened
2. Fixed Investment Account / Mudharabah Current Account created
   
B. Checklist for Customer to Branch / Trade Finance Operations
1. BG-i / LC-i application form
2. Letter of Indemnity
3. Letter of Set Off / Memorandum of Deposit
4. Letter of Award / Indent / Invitation for Tender from beneficiary
5. Sample of BG format – i.e., related to Government / GLC / Corp
6. Sample of LC format (if any)
7. Other documents required :-
   
a) For Limited Company (to be verified by Bank Manager / Customer Relationship Manager)
i. M&A (certified true & correct by company secretary)
ii. Board of Directors’ Resolution for BG-i / LC-i issuance against 100% /
110% Fixed Investment Account / Mudharabah Current Account
certified true and correct by the company secretary. Sample Resolution as below.#
iii. Form 24, 44, 9 & 49 (which ever applicable) certified true copy by the Company Secretary.
b) For Partnership (to be verified by Bank Manager / Customer Relationship Manager)
i. Photocopy of Business Registration
ii. Partnership Mandate
iii. NRIC of Partners
c) For Sole-Proprietorship (To be verified by Bank Manager / Customer Relationship Manager)
i. Photocopy of Business Registration
ii. NRIC of Sole-Proprietor
d) For Individual (To be verified by Bank Manager / Customer Relationship Manager)
i. Photocopy of NRIC
   
Standard Requirement Terms:
1) Existing customer must have a Current Account / Current Mudharabah / Savings Account with Al Rajhi Bank (KYC / AMLA / CCRIS / CITOS / DCHEQS, etc., performed by Branch).
2) Beneficiary must be Government / GLC / Quasi Government / Big Corporate / Umrah Operators for Hajj / Umrah / Visa / Utility Providers, etc.
3) BG format as per Bank’s format and others subject to Bank’s approval.
4) LC special format (if any)
5) Security / Collateral – 100% FIA or 110% FIA if involved foreign currency (For FIA PSR to be determined by Head of Trade Operations.)
6) Will be subject to the approval of the Credit Approval Memo from Business Unit / Relationship Manager / Risk Management / Head of Trade depending on the transaction amount.
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