Imports

Issuance of import LC's: It is a firm undertaking issued by Citibank on behalf of its customer / importer in favor of the exporter / seller outside the country. The issuing bank is responsible for the payments to the buyer, provided the terms of the LC's are fulfilled. (LC's in Pakistan are subject to UCP 500)

Inward Collection: It is an option using which a Citibank Pakistan customer / importer can import without opening a letter of credit. There are two types of collections

D / A: Documents against acceptance

D / P: Documents against payment
It is a less costly and more efficient method of importing goods than through opening a LC.

FX Forward cover for imports / repat loans: It is a tool which importers use to hedge against FX rate risk. They book at today's foreign exchange rate for an import deal happening at a future time period. (3 months / 6 months etc)