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About our import solutions​

Advance import payments

Advance import payment is a mode of payment under which an importer makes the payment to the overseas supplier prior to the shipment of goods. The amount of advance and delivery would be as per terms agreed between the importer and the supplier and would normally be covered in the sales contract or proforma invoice. 

Initiate payment digitally through our Trade online platform, or, submit request at your branch

Click here for pre-filled Request Letter

Direct import payments

Direct import payment is a mode of payment under which an importer makes payment to the overseas seller after shipment of goods. The payment terms/ usance period would be as per terms agreed between the importer and the supplier and covered in the commercial invoice. 

Initiate payment digitally through our Trade online platform, or, submit request at your branch.

Click here for pre-filled Request Letter

Import bills on collection

Import bill collection is a mode of payment under which the overseas supplier sends the original commercial and financial documents through their bank to the importer’s bank. Based on the collection instruction received from the supplier’s bank, the importer either makes the payment or accepts the draft to make the payment at a later date. 

ICICI Bank helps you manage your import bill collections through our extensive trade enabled branches across the country or through our digital channels. ICICI Bank has a streamlined process for releasing the original documents instantly with our Insta MFCR solution, thereby reducing the turnaround time to enable the importers to release the goods from customs.

Initiate payment digitally through our Trade online platform, or, submit request at your branch.

Import Letter of credit

A Letter of Credit is a mode of payment under which a written undertaking issued by the importer’s bank, guaranteeing payment to the overseas seller, provided that the seller complies with all the specified terms and conditions and submits the required documents within a stipulated timeframe. Letters of credit facility can be availed against sanctioned credit lines or against Fixed Deposits. 

Key benefits with ICICI Bank:

  • Simplified LC application form and documentation.
  • Apply digitally through our Trade online platform
  • Share pre-vetted drafts with overseas supplier before final issuance 
  • In-depth expertise in regulatory norms and handling documents under LC
  • Instant generation of LC drafts through website

With ICICI Bank’s LC services, you can also create/ generate a draft letter of credit and share with overseas supplier for finalising the LC terms and conditions.

Explore and generate an instant LC draft

Buyers credit 

Buyers’ Credit is a facility for importers to borrow in foreign currency from overseas lenders such as banks and other financial institutions to finance purchase of goods from overseas suppliers. Availing buyers credit helps in extending the credit period for import while ensuring that the suppliers are paid on time as per the agreed payment terms. 

Key benefits with ICICI Bank:

  • Competitive pricing from our GIFT City and overseas branches
  • Simplified documentation and SBLC (Standby Letter of Credit) issuance process

Non import remittances

ICICI Bank facilitates all your outward remittances for current or capital account transactions in line with FEMA guidelines. Our unique features of Full value credit, large correspondent bank network, payment facilitation in 38+ currencies, digital journeys across all purpose codes, ensure that your fund transfers are secure, fast, and cost-effective.

Initiate payment digitally through our Trade online platform, or, submit request at your branch. 

Click here for pre-filled Request Letter

FAQs

What are the import solutions offered by ICICI Bank?

Import Solutions from ICICI Bank include Letters of Credit, import payments, outward remittances, and trade finance, designed to simplify global trade and improve cash flow for importers. 

How can I apply for Import Letters of Credit?  

You can apply through ICICI Bank branches or digital channels. LC drafts are generated instantly and can be issued against approved credit limits or fixed deposits. 

What are the import solutions offered by ICICI Bank?  

ICICI Bank supports Advance Payments ,Bills for Collection, and Direct Bills—offering flexibility based on trade terms and ensuring faster processing across 34+ currencies. 

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