AEC Trade Express is an international trade service for importers and exporters with trade partners in ASEAN. This service requires both parties to perform transactions via a Bangkok Bank in Thailand with overseas branches in Cambodia, Laos, Myanmar, Vietnam, Singapore, Malaysia, Indonesia, or the Philippines. Service details are as follows:
- Advising Letter of Credit: Exporters will receive a notification on the same day after Bangkok Bank’s branch in the ASEAN opens the L/C to the beneficiary in Thailand.
- Export Bill under Letter of Credit and Outward Bill for Collection: Exporters will receive a notification of the document checking result and a reference number from the courier services on the same day they sent the export documents to the bank.
- Opening Letter of Credit: Exporters in an ASEAN countries will receive a notification about the L/C opening on the same day the importer applies for L/C with Bangkok Bank in Thailand.
- Import Bill under Letter of Credit and Inward Bill for Collection: Importers will receive a notification of the document arrival on the same day after Bangkok Bank in Thailand receives the bill from a Bangkok Bank branch in another ASEAN* country. Once they have received the notification, importers can take the documents to pick up the goods from the freight forwarders.
You can apply for this service at any Bangkok Bank Trade Finance Business Center or by using Bualuang iTrade.
- You can start your production line or procurement process earlier as you will be able to prepare the export documents and deliver goods to your buyers more quickly.
- You can use your L/C to apply for packing credit to finance your operations and speed up the production process.
Receiving the documents more quickly means you can cut unnecessary costs such as fees when applying for a shipping guarantee.
- The service is for juristic persons only.
- The transaction must be between Bangkok Bank in Thailand and any Bangkok Bank branch in any ASEAN* countries (except Brunei).
- For the Export Bill under Letter of Credit and Outward Bill for Collection services, exporters can receive the document checking result and the reference number for the L/C or Export Bill from the courier service on the same day, provided they have submitted correct and complete export documents to Bangkok Bank by 2:00p.m.
- For same-day opening of the Letter of Credit to a beneficiary, importers must have an approved credit line from Bangkok Bank and submit the L/C application form and other required documents to Bangkok Bank before 12:00p.m. except for Myanmar, where importers are required to submit the application by 11:00a.m. Importers who do not request same day L/C opening can submit their application form until 4:00p.m.
- For an Import Bill under Letter of Credit or an Inward Bill for Collection service, the bank will inform the exporter that the Export Bill is ready on the same day, provided the Bank has received the Import Bill by 2:00p.m. To receive the documents the importer needs to pay immediately (L/C Sight) or arrange a term payment (L/C Term).
- For Bualuang iTrade, importers can apply to open the Letter of Credit only.
- The time it takes for the delivery of export documents is the responsibility of the courier services.
- Bangkok Bank’s terms of service and fees apply.
- Bangkok Bank reserves the right to change or cancel the service without prior notice.
*Bangkok Bank does not have a branch in Brunei.