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Apply now for Import Finance
Manage Your Payment Cycle for Imports Effectively
Buyers’ Credit is a loan taken by an importer (Buyer) from overseas lenders such as banks and other financial institutions to finance the purchase of capital goods or services.
ICICI Bank’s Buyer Credit
- Extends your import repayment period
- Makes sure your suppliers are paid on time
- Helps manage your cash flow as per your business needs
How Buyer’s Credit Works
- Step 1 - The seller and buyer enter into a contract and agree upon the payments to be made on the basis of a Buyer's credit
- Step 2 - ICICI Bank gets a request from buyer in terms of financing of import payments
- Step 3 - ICICI Bank arranges a line of credit with overseas banks on the request of buyer
- Step 4 - The overseas bank pays ICICI Bank directly, and we then pay seller on the import due date
- Step 5 - Buyer then pay the overseas bank on the due date
The ICICI Bank Edge
- Multichoice - Booking of forward contracts and Issuance of bank guarantees
- Ease - Provision of cheaper financing of imports through LIBOR related interest rates
- Competitive rates with overseas banks
What more, you can avail a combination of three services Buyers Credit, Import Bill of Collection and Forwards with one-time documentation by using our three-in-one product 'Import Plus'
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