Foreign Trust Receipt (FTR)

Foreign Trust Receipt (FTR)

FTR is specially designed to help buyers mitigate their foreign exchange risks and leverage on potential savings on interest rates. This facility is offered to buyers who have receivables in foreign currency. Most financing is structured to match the foreign currency receivables of our customer.

Features

  • Tenor is determined based on the buyer’s trade cycle to convert the goods into cash
  • Offered to buyer who has receivables in foreign currency
  • Interest calculated from date financed to maturity
  • Available in major currencies
  • Settlement via direct debit from Foreign Currency Account maintain with us

Benefits

Buyer:

  • Obtain 100% financing of the invoice value
  • No minimum financing of amount and tenure
  • Allows you to take possession of the goods without having to use your own funds immediately
  • Flexibility to partial or early settlement prior to maturity allows cost savings as interest is calculated up to the number of days financed
  • Mitigate risk of foreign exchange loss as financing in foreign currency offset against receivable
  • Cheaper funding option

Eligibility

  • Malaysian buyers (Domestic Purchases & Imports)

Requirements

  • Approved FTR Facility with the bank where purchase/import in foreign currency is done under Letter of Credit or Collection terms payment.
  • Application must be made in the bank’s standard Application Form, along with a FTR Indemnity and Bills of Exchange, duly completed and signed by your authorised signatory/ies.
  • Application must be accompanied by supporting documentation e.g. Invoices and transport documents, evidencing the underlying trade transaction.

How to Apply

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  Contact our Call Centre at +603-8230 2222 or visit the nearest Business Centre nationwide today.

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