FAQs
1. How will I contact the banker?

You can contact the banker through us by calling our helpline or messaging us.

2. What is IBC?

IBC is an online market place that provides a platform to bankers and importers to interact, discover price and conclude buyer’s credit deals, without having to depend on multiple arrangers. It is a platform that economizes the entire business of seeking Buyers Credit, as the per transaction cost (brokerage) is substituted with a single yearly subscription cost, that enables you to transact as many times as you require during the contracted period.

3. Is IBC Free?

Yes, IBC is offering a free trial to all importers for a period of 3 months from the date of launch of IBC. After 3 months, it will be a paid service. IBC is a free platform for bankers.

4. What are the other charges for transactions?

Please refer the Pricing Page.

5. How do Bankers benefit from India Buyers Credit?

Follow the link for details

6. What is LC or LOU?

The buyer’s credit payment is scheduled generally one working day prior to the date of maturity of LC or in some cases on the same date of maturity of LC. The LC limit enjoyed by the importer is generally utilized for providing the LOU as well by the working capital bankers of the importer. The LC limit then gets blocked to the extent of the amount in the LOU being extended by the banker. The LOU charges generally differ from banker to banker depending on their internal policies.

7. What are LIBOR rates?

LIBOR (London Inter Bank Offered Rate) is the average interbank interest rate at which a selection of banks on the London money market are prepared to lend to one another. LIBOR comes in maturities (from overnight to 12 months) and in 5 different currencies (USD, EURO, GBP, JPY, CHF). The official LIBOR interest rates are announced once per working day at around 11:45 a.m. LIBOR is used as the base rate for banks while quoting the interest rate for buyer’s credit. For example: interest rate would be 6 months LIBOR + 50 bps.

*Due to a change of policy by the ICE Benchmark Administration, LIBOR rates are available with a 24 hour delay only. No website is allowed to publish real time rates anymore publically.

8. Can somebody teach me how to use the portal?

You can learn more about how IBC works, here.
If you want a personalized tutorial please contact us on admin@indiabuyerscredit.com.

9. How many enquiries can I post in a day ?

You can post as many enquiries as required.