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Manage your cross-border trading and payment risks
Ideal for resellers
You won't need to issue an LC to buy goods against an Export LC.
Convenient handover
Let UOB pass your Export Transferrable LC to the final seller.
Leverage UOB's network and credit rating
Enhance your business proposition and secure deals with confidence.
Rates & Fees
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Service
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Fee
| Service | Fee | |
| Advising of Letters of Credit (LCs) | Account holder | S$30 flat |
| Non-account holder | S$50 flat | |
| Confirmation of LCs | Confirmation of Letters of Credit (LC) | Subject to arrangement |
| Negotiation under LCs | Export Bill Negotiation | 1/8%, minimum S$75 |
| Bank Acceptance | Subject to arrangement | |
| Countersign Letter Of Indemnity To Other Banks (subject to arrangement) | 1/8% for two months, minimum S$75 | |
| Transferable LCs (Subject to approval) |
Full Transfer (without substitution) | Subject to arrangement |
| Partial Transfer | Subject to arrangement |
| Advising of Letters of Credit (LCs) |
| Confirmation of LCs |
| Negotiation under LCs |
| Transferable LCs (Subject to approval) |
Submit trade bills on UOB SME with 3 simple steps
Step 1
Log in via UOB SME online
Step 2
Select Trade Services (BIBPlus)
Step 3
Select trade product, complete the respective online form and press submit
Submit trade bills on UOB SME with 3 simple steps
Step 1
Log in via UOB SME online
Step 2
Select Trade Services (BIBPlus)
Step 3
Select trade product, complete the respective online form and press submit
Frequently asked questions
What specific details can be revised in a Transferable LC?
The LC can be transferred only in accordance with the terms and conditions stipulated in the original LC, with the exception of the following which may be changed:
- The LC amount
- The unit price of goods (if stated in the original LC)
- The time of shipment
- The last date for presentation of negotiation documents
- The expiry date of LC
- Any or all of the above may be reduced in the transferred credit to the second Beneficiary.
What other specifications can be revised in a Transferable LC?
The name of the Applicant can be substituted with the name of the first Beneficiary, unless the original LC stipulates that the name of the Applicant be used in any document other than the invoice. If all or part of the LC is transferred, the first Beneficiary retains the right to substitute their own drafts and invoices for those of the second Beneficiary, if they so require. Instructions must also be provided on whether the bank is allowed to make any amendments to the original LC to the second Beneficiary.
How do I apply for a Transferable LC?
UOB can consider transferring the LC if it is stipulated and requested by the Issuing Bank. LC Transferring fees are normally charged to the account of the Beneficiary (Seller) unless otherwise agreed.
If you currently do not have any facilities with UOB, but wish to apply for the Transfer of a Letter of Credit by the Bank, please indicate interest via our callback form and one of our Sales staff will be in contact shortly.
If you have any existing credit facilities with us, please contact your Relationship Manager, or apply for BG online via UOB SME app or online.
How do I apply for a Transfer LC for total or partial value?
Submit the completed Transfer LC Form together with the Original Export LC to any UOB Group Branch.
- The form is to bear signatures of the authorised Company Signatories and Company stamp.
- The Original Export LC must be advised through UOB.
Upon successful application/approval, the application for Transfer LC will be processed.
Where can I find a Trade Counter?
You may collect trade documents or submit application forms at any of the following Trade Counters:
Albert Street
60 Albert Street #09-01
OG Albert Complex Singapore 189969
Cecil Street
156 Cecil Street,
Level 5 Far Eastern Bank Building, Singapore 069544
Tampines
1 Tampines Central 1
#02-01 UOB Tampines Centre Singapore 529539
Tai Seng
30 Tai Seng Street
#01-01 BreadTalk IHQ Singapore 534013
Thomson
251/253 Upper Thomson Road
#02-00 Singapore 574375
Woodlands
6 Woodlands Square
#08-02 Woods Square Tower 2 Singapore 737737
West Hub
8 Jurong Town Hall Road
The JTC Summit #26-01
Singapore 609434
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UOB BizGlobal Account
Save more with US$38 outward telegraphic transfer fees and low trade financing fees.
- Best for businesses with cross border trade
- Earn 0.18% p.a. on your USD deposits from the first dollar
- US$38 flat fee, including cable charges, for each Outward Telegraphic Transfer transaction via UOB SME app or online
- Preferential rates for trade finance transactions
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