Important Features of IBC

By encouraging importers to provide personal information required by bankers both during the registration process and also during the creation of enquiry; IBC will facilitate smoother transactions and high levels of success.

The platform ensures quick and competitive responses from active bankers for each enquiry posted by the importer

 

Quotes from bankers can be received by email and sms to ensure that importers on the move do not miss out on vital information.

 

IBC will also inform importers of the need to urgently close the transaction so as to ensure smooth funding on the said value date

 

Our services are not limited to setting up the platform and enabling importers to get the most competitive rates from bankers, but we also service the importers and lending bankers right up to the time of repayment of the buyers credit funding to the lending bank

 

IBC ensures complete security of all the information. This information will be visible only to the management and administrative staff of IBC and the staff of bankers who are interested in bidding for the fund requirement.

 

IBC will also provide lenders with reports evaluating their performance on IBC as well as the general market

Why did we move online?

This market has evolved and matured (annual import transactions of US$451 Billion in 2013-14) and is sorely in need for structured, transparent process flow that will enable open price discovery

Under the present dispensation, the importer is caught between the broker and the banker, and is burdened with a lot of unnecessary formalities

Creating direct links between seekers and providers will add speed to the whole import transaction

The online market place is innovative, and follows the global move towards internet based dis-intermediation

There is a latent demand for increased transparency, direct dealing and reducing per transaction costs

There is a need to promote awareness of the product as many importers are not aware of the product

It is a highly dispersed market that requires centralisation

Presently the market is not governed and there is no monitoring of practices

After having dealt with the offline business model, we identified improvements which led us to innovate and create the IBC.com platform