International Trade

MCB Seychelles offers an array of products and services covering documentary credits, standby letters of credit and documentary collections.

Import Documentary Credit

Order goods safely, receive them according to the terms of your commercial contracts and pay the seller only if he has fulfilled all of his obligations.

In consultation with the seller, you will agree on a list of documents representing the goods that you want to obtain against payment (such documents typically include the commercial invoice, the bill of lading or road consignment note, the insurance certificate, etc.). MCB Seychelles will undertake to pay the seller against submission of those documents in conformity with the documentary credit. The interpretation of documents is done following the UCP 600 of the International Chamber of Commerce.

Documentary credits can be paid at sight or at usance. MCB Seychelles issues documentary credits in USD, GBP and EUR.

Import Documentary Collection

Import goods at a lower cost than with the documentary credit. The documentary collection however offers less security to the seller because there is no financial commitment from MCB Seychelles to pay him against presentation of compliant documents. Hence, an element of trust between you and the seller is necessary.

Here, the agreed set of documents is sent directly to MCB Seychelles. You will be informed as soon as we receive the documents. We will only release the documents against payment or commitment to pay within an agreed time period. Once you receive the set of documents, you can proceed to clear the goods through customs.

Your documentary collection is treated in accordance to the URC 522 of the International Chamber of Commerce.

Standby Letter of Credit

Provide your supplier with a guarantee of payment. This is an instrument adapted to continuous transaction flows, such as regular imports of parts. The standby letter of credit is a guarantee. It is claimed only in case of default. As such, all documents are directly addressed to you so that you can take delivery of your goods faster. The interpretation of documents is done following the UCP 600 of the International Chamber of Commerce.
 

Export Documentary Credit

With the export documentary credit, the issuing bank commits itself to pay you against presentation of the stipulated documents.

You can cover yourself further by having the documentary credit confirmed by MCB Seychelles. In this case, we undertake to pay you as soon as we receive the documents in compliance with the documentary credit.

MCB Seychelles can also discount your commercial invoices, thereby allowing you to enjoy your export proceeds as soon as you ship the goods.

Export Documentary Collection

It is a less costly alternative to the export documentary credit and allows you to maintain the control of documents until the payment or commitment to pay is made by your buyer.

MCB Seychelles undertakes to send the documents on your behalf to your buyer’s bank, which will in turn hand over the documents to the buyer upon payment or commitment to pay at a future date, in accordance with your instructions.