Means of payment in Malaysia

Collection

Exports to Malaysia

  • Documentary Credit:
    means the seller has a guarantee of collecting payment before shipping the goods. Option of financing the Malaysian payer (importer).
  • Collections:
    collection management of commercial documents with the purchaser by the Malaysian bank, usually with a sight draft or payment.
  • Advance payment:
    only authorised companies can make these, if they meet certain conditions.
  • Guarantees for advance payment:
    performance bonds, deposits and also for regular transactions or capital goods.
  • Forfaiting:
    discounting promissory notes or export L/Cs with no recourse.
  • PPP type financing for public projects in infrastructures and others.

Payment

Imports from Malaysia

  • Documentary Credit:
    bank commitment to pay conditional on supplying the documents accrediting export.
  • Import remittance:
    collection management of commercial documents with the buyer by the Spanish bank.
  • Collateral.
  • Simple transfer:
    common means of payment and collection