Top key features and benefits
A product to complement
Leter of Credit Facility
clearance of goods at port
Issued in the absence of
complete transport documents
Shipping Guarantee is a facility where KFHMB indemnifies and guarantees the shipping company for the release of goods to the buyer/importer without the presentation of the original Bill of Lading.
ssued under the Kafalah contract, it can be defined as a surety provided by a party to the owner of the goods, who had placed or deposited his goods with the shipping company, whereby any subsequent claim by the owner for his goods must be met by the guarantor.
- Importer can take delivery of goods immediately
- Importer will not have to incur demurrage and warehousing charges
- Enables the importer to sell the goods without delay
- Open to companies or multi national corporation whom have issued LC with KFHM.
- Standard SG application form
- Letter of Indemnity
- As stipulated in the SG application form
- To surrender the SG for cancellation upon arrival of the full set of transport documents