Citi Bank

Summary

A transaction under which the bank issues a written conditional undertaking to ensure payment for imported goods.

Issuance/Acceptance fee rate	It differs depending on customer's credit rating.
Calculation of issuance/acceptance fee	- Minimum : KRW 20,000 - At the time of LC issuance : issuance fee [LC amount x middle rate x issuance fee rate(depending on customer's credit rating,issuance fee rate per quarterx4) x No. of days/360or365] - At the time of acceptance : acceptance fee [Acceptance amount x middle rate x acceptance fee rate(depending on customer's credit rating,acceptance fee rate per quarterx4) x No. of days/360or365 ]
Payment of issuance/acceptance fee, etc.	To be collected in advance at the time of transaction
Reimbursement	-Reimbursement at expiry date or predetermined replacement date - For other reimbursements, please refer to foreign exchange (export/import, etc.) transaction agreement.
Requirement of collateral	To be determined in the process of analysis on credit provision
Additional expenses	1.Telex/SWIFT charge: KRW 25,000 for LC opening, KRW 10,000 for changing LC terms, KRW 10,000 for follow-up message 2. Fee on changing other terms and conditions: KRW 15,000 3. Others: Other fees could be incurred depending on process by overseas banks or type of transactions.
Limitations on transactions	Those who have overdue loans to Citibank Korea (including guarantee payments), have caused damage to the bank, have bad credit information, or have other reasons as provided by the bank may be subject to restrictions on foreign exchange transactions.
Interest in arrears (delay penalty)	- Customers should pay interest in arrears (delay penalty) in the following cases: 1. If the amount is not reimbursed by a buyer until the reimbursement date specified under foregn exchange transactions and the principal is reimbursed after the bank make reimbursement on behalf of the buyer. 2. If fees are not paid on agreed payment date, etc.
Review No. 1212-01-269 (Review Date: 2012.12.17)