Benefits
Payment security
Receive payment upon presentation of compliant documents.
Document checking provided
UOB will check documents if requested, and notify beneficiary on discrepancies if any.
Access funds quickly
Receive discounted funds once buyer provides their acceptance, even before maturity date.
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 are some key considerations when preparing documents for presentation?
It is important to ensure that the wordings in all documentation submitted to the Bank are accurate and consistent to avoid subsequent disputes or discrepancies.
Common documentary discrepancies include
- presentation of documents after LC expiry date,
- shipment of goods made after the stipulated latest shipment date, and
- documents presented after the stipulated presentation period or more than 21 days after the shipment date (if presentation period is not indicated in the LC).
If the seller anticipates that the terms and conditions of the LC may not be fulfilled, he should request the buyer to amend the LC prior to shipment to avoid discrepancies.
Where can I present my documents under the LC?
You may submit the required documents together with the application for 'Handling of Documents under Letter of Credit' at any of our Branches. Click here to find the Branches nearest to you.
