Export Letter of Credit (LC) | OCBC Business Banking SG
Export Letter of Credit

Export Letter of Credit

Assures payment when your documents meet the conditions in the Letter of Credit

Why you will love this

Reduce payment risks with Export Letter of Credit Confirmation

Manage cash flow better with Export Letter of Credit Discounting

Features and benefits

Reduce the payment risks

Eliminate the risk related to the buyer’s bank and country with Letter of Credit confirmation.

Eliminate the risk related to the buyer’s bank and country with Letter of Credit confirmation.

Authenticity verification

Ensuring that the Letter of Credit issued to your buyer is authentic.

Ensuring that the Letter of Credit issued to your buyer is authentic.

Request for cash advances

If required, you can request and obtain financing via Export Letter of Credit Discounting.

If required, you can request and obtain financing via Export Letter of Credit Discounting.

How it works
Process for pre- and post-shipment

Pre-shipment

Step 1

Request for Letter of Credit from your buyer

Pre-shipment

Step 2

Buyer applies for Letter of Credit through his bank

Pre-shipment

Step 3

Buyer’s bank sends Letter of Credit to OCBC

Pre-shipment

Step 4a

OCBC verifies authenticity of Letter of Credit and notifies you of the incoming Letter of Credit

Pre-shipment

Step 4b

For greater assurance, you may request OCBC to add confirmation to the Letter of Credit. This is provided if the Letter of Credit allows for it (Export Letter of Credit Confirmation)

Pre-shipment

Step 5

You ship the goods and submit trade documents to OCBC

Post-shipment

Step 6

OCBC checks and presents trade documents to your buyer’s bank (Export Letter of Credit bills processing)

Post-shipment

Step 7

Buyer’s bank receives and checks the trade documents

Post-shipment

Step 8

Buyer’s bank accepts the trade documents and sends the payment to OCBC

Post-shipment

Step 9

If the Letter of Credit tenor is term (usance), you can request for advancement of funds from OCBC (Export LC Discounting)
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Fees and charges

Export Letter of Credit Advising
S$30 if you have a corporate account with OCBC.
Export Letter of Credit Confirmation / Discounting
Charges vary depending on the Letter of Credit Issuing Bank.
Export Letter of Credit bills processing
Handling fee:
0.125% of the bill amount for Letter of Credit processing. Minimum fee of S$75 applies.

Commission-in-lieu-of-exchange:
0.125% of the bill amount for Letter of Credit processing. Minimum fee of S$75 applies.

Ways to apply

Apply for an Export Letter of Credit today

Terms and conditions

You understand and agree that the below terms and conditions and your application together will form an agreement between you and OCBC.



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