Import Solution

An LC is a written undertaking issued by a bank on behalf of its customer, which confirms the timely payment to the beneficiary, thereby allowing the customer to negotiate on better terms. With IDFC FIRST Bank, you can enjoy a range of import solution options — from efficient management of paper-based requests for LCs to a comprehensive, fully automated online service.

• Initiate an LC issuance and amendment requests on IDFC FIRST Bank's Online Trade Portal
• Templates for Repetitive Payments on LCs
• Book FX rates online seamlessly
• Repository of the LC copy and advises

An Import Bill Collection provides a cost-effective mechanism, as we at IDFC FIRST Bank manage the documents, in accordance with the collection instruction received from the remitting bank.

• Handle collections in multiple currencies
• Receive transaction alerts on document arrival
• Book FX rates online seamlessly

As your supplier trusts you on open account transactions, you may rely on us to make the payments to your suppliers globally; along with faster turnaround of the bill of entry regularization on IDPMS. You can provide payment instructions, book forex rate and provide BOE regularization requests all on the same page through our Online Trade Portal.

• Templates for Repetitive Payments/Remittances
• Paperless transactions on our Online Trade Portal
• Regular email alerts for outstanding bills
• Dedicated Trade desk for all your import trade payments and IDMPS recons