Benefits
Secured and reliable
Receive LC swiftly and securely.
Mitigate documentary & cross-border risk
Payment undertaking from UOB when confirmation is added.
Supported by Leading ASEAN Bank
UOB is ranked 'Aa1' by Moody's and 'AA-' by both S&P Global and Fitch Ratings.
Types of Export LC Solutions
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Services
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Description
| Services | Description |
| Letter of Credit Advising | When a bank issues a Letter of Credit (LC), it sends the LC to the Beneficiary's Bank, otherwise known as the Advising Bank. UOB, upon receiving the LC, will authenticate the LC and advise the LC Beneficiary that there is an LC for their collection. |
| Letter of Credit Confirmation | The Issuing Bank may request for the Advising Bank to add confirmation to the LC. Upon agreement and adding of confirmation, UOB undertakes to pay the seller when the Issuing Bank does not fulfill its obligation. |
| Packing Credit Loan | Packing Credit Loan is a pre-shipment export loan used for procuring raw materials and packaging materials. Provides working capital to the beneficiary to make the final goods. |
| Services |
| Letter of Credit Advising |
| Letter of Credit Confirmation |
| Packing Credit Loan |
Fees
For fees related to Trade Services, remittance fees and other service fees, please contact your nearest UOB China branch or you can call UOB China at 400 886 2821.
Click here to view Wholesale Banking Cash Management and Trade Finance Service Tariff.
Frequently asked questions
What is the role of an Advising Bank?
The Advising Bank authenticates the LC received from the Issuing Bank and advices/notifies the Beneficiary that there is an LC issued in his favour.
What should a Seller do when a Letter of Credit is advised to him?
It is advisable to check through the terms and conditions of the LC to ensure that it reflects what was agreed under the Sales Contract.
If in doubt on the LC terms, it is prudent to approach your banker for clarification, and if needed, request for an amendment from the Issuing Bank.
This will facilitate the document presentation stage where any discrepancies could result in a delay of payment, or non-payment.
When should the seller request a confirmation for a letter of credit?
LC Confirmation is usually requested if the seller is not comfortable with the creditworthiness of the Issuing Bank, and/or is concerned over the buyer’s country risk. In return, the seller is required to pay an LC confirmation fee to the Confirming Bank.
Where can I collect the Export LC received from the Issuing Bank?
You may request for UOB to safe-keep your Export LCs to facilitate document presentation at a later stage.
If you need to collect the Original LC, you may do so at our Branches. Click here to find the Branches nearest to you.
