Banker's Guarantee / Standby Letter of Credit

Greater assurance to secure your business deal


  • Helps you secure the deal with your buyer
  • Tap on OCBC's reputation to give your buyer the assurance


 

  • Your buyer requests for BG / SBLC with specific format
  • You apply for OCBC to issue BG / SBLC
  • OCBC issues BG / SBLC
  • OCBC pays your buyer in the event of a claim on the BG/SBLC


 

  • Service commitment

    Service commitment
    Same-day BG/SBLC issuance (when your application is in order and if you have a Banker's Guarantee/Standby Letter of Credit Line with OCBC)

  • Late cut-off time

    Late cut-off time
    Cut-off time at 5pm allows greater flexibility. (Mon to Fri, excluding public holidays)



How to apply

Banker’s Guarantee

Do you have a Banker's Guarantee Line with OCBC?

  • No
  • Yes


Issuance/amendment fees

Performance Guarantee :

Tenor ≤ 2 years: 1% per annum*
Tenor > 2 years: 1.5% per annum*

Financial Guarantee :

1.5% per annum*

*Minimum chargeable fee is for a period of 1 year or $150, whichever is higher.

You have two options for submission:

Online application:

 

Login to Velocity@ocbc


or

Walk-in application:

 

  1. Download and fill up the following forms:
    Application Form
    Standard Format
  2. Submit the completed form at a Trade Service Centre near you.

 

All applications are subject to bank's acceptance and approval.


Issuance/amendment fees

Performance Guarantee :

Tenor ≤ 2 years: 1% per annum*
Tenor > 2 years: 1.5% per annum*

Financial Guarantee :

1.5% per annum*

*Minimum chargeable fee is for a period of 1 year or $150, whichever is higher.

You have two options for submission:

Email application:

 

  1. Download and fill up the following forms:
    Application Form
    Standard Format
  2. Email us at BusinessBG@ocbc.com and provide the following:
    1. An attachment of the completed Application Form
    2. An attachment of your Banker’s Guarantee Format duly signed on every page by authorised signatories

 

We will call you by the next working day.

or

Walk-in application

 

  1. Download and fill up the following forms:
    Application Form
    Standard Format
  2. Submit the forms at any of these branches:
    • OCBC Centre Branch
    • Toa Payoh Central Branch
    • Ubi Business Banking Centre

 

Branch location and opening hours

 



All applications are subject to bank's acceptance and approval.


Standby Letter of Credit

Do you have a Standby Letter of Credit Line with OCBC?

  • No
  • Yes


Issuance/amendment fees

Performance Guarantee :

Tenor ≤ 2 years: 1% per annum*
Tenor > 2 years: 1.5% per annum*

Financial Guarantee :

1.5% per annum*

*Minimum chargeable fee is for a period of 1 year or $150, whichever is higher.

You have two options for submission:

Online application:

 

Login to Velocity@ocbc


or

Walk-in application:

 

  1. Download and fill up the following forms:
    Application Form
    Standard Format
  2. Submit the completed form at a Trade Service Centre near you.

 

All applications are subject to bank's acceptance and approval.


Issuance/amendment fees

Performance Guarantee :

Tenor ≤ 2 years: 1% per annum*
Tenor > 2 years: 1.5% per annum*

Financial Guarantee :

1.5% per annum*

*Minimum chargeable fee is for a period of 1 year or $150, whichever is higher.

Submissions process:

Walk-in application:

 

  1. Download and fill up the following forms:
    Application Form
    Standard Format
    Cash Margin Letter
  2. Submit the completed form at a Trade Service Centre near you.

All applications are subject to bank's acceptance and approval.




  • Important Notices
  • Terms and conditions apply