Assures payment to your supplier if their documents meet the terms and conditions of your LC.
Works well if both parties have a trusted relationship. Your supplier's bank sends the shipping documents to OCBC, which will be released to you under the terms described by the supplier's bank.
Assures your seller that you will fulfil contractual obligations.
If your goods arrive in Singapore ahead of the shipping documents, you can collect the goods without the shipping documents and avoid costly demurrage charges.
Pay for your shipments under Import LC or Import Documentary Collection at a later date.
Pay for your shipments under cash terms at a later date.