Trade Services

  • Business made easy across borders

Overview

Trade Services

Receive payments seamlessly with our export services.

Get S$1200 off export trade fees*.

Find out more

 Import Services

Import Services

Show moreShow less
 Export Services

Export Services

Show moreShow less
 Banker’s Guarantee and Standby Letters of Credit

Banker's Guarantee and Standby Letters of Credit

Show moreShow less
  • Import Letter of Credit (LC)
    An Import Letter of Credit is an irrevocable undertaking given by the Issuing Bank, for the account of the buyer (Applicant), to pay the seller (Beneficiary) the value of the draft and/or documents, provided the terms and conditions set out in the Import Letter of Credit are complied with.
  • Trust Receipt
    Trust Receipt (TR) is a type of short-term import loan to provide the buyer with financing to pay for goods where title of goods is held by the Lending Bank but allows the buyer to take possession of the goods on trust for resale before paying the Bank on TR financing due date. TR financing is applicable to goods imported under Documentary Credit or Import Collections.
  • Invoice Financing
    Invoice Financing is a form of short-term borrowing used to finance a company's import invoices.
    Unlike financing under Import Collections and Import Letters of Credit, the trade documents does not go through the bank but are sent directly from the Exporter to the Importer. Importer has to submit invoices and other supporting documents as stipulated by the Lending Bank as proof of underlying trade when applying for Invoice Financing.
  • Import Documentary Collection
    Import Documentary Collection refers to the process whereby the buyer's Bank manages the incoming documents in accordance to the collection instruction from the seller (usually referred to as Drawer). The documents are released only upon acceptance of a bill of exchange or payment by the buyer.
  • Shipping Guarantee
    A Shipping Guarantee allows an Importer to take possession of goods from a shipping company when goods arrive at the port prior to receipt of original shipping documents. The Bank issues the Shipping Guarantee subject to indemnity from the Importer (the shipping guarantee Applicant).
  • Export Letter of Credit Advising
    When a Letter of Credit (LC) is received from an Issuing Bank, the Advising Bank will authenticate and release the LC to the Beneficiary. The LC may be re-advised by the first to a second Advising Bank (the Beneficiary's Bank) if the Issuing Bank has no direct test key with the Beneficiary's Bank, provided the first Advising Bank (Issuing Bank's correspondent) does.
  • Export Letter of Credit Discounting/Negotiation
    By negotiating an export Letter of Credit, the Beneficiary is able to obtain an advancement of funds from the nominated Negotiating Bank after acceptance of drafts and documents by the Issuing Bank.
  • Export Transferrable Letter of Credit
    When a Beneficiary receives a Transferable Export Letter of Credit (LC), he is entitled to request the nominated Bank to transfer the LC to a second Beneficiary, showing himself as an Applicant.
  • Export Letter of Credit (LC) Confirmation
    If the Beneficiary is unfamiliar with the LC opening Bank in its domicile country, the Beneficiary may obtain an additional payment undertaking from a Confirming Bank in his own country.
  • Export Bill Purchase
    This is an advance to the seller booked against his own facility.
  • Export Packing Credit
    A pre-shipment financing to facilitate the preparation of goods for shipment. Usually, the application must be accompanied by documents evidencing the intended shipment, but not the actual shipping documents.
  • Discounting of Trade Bill
    At the request of the Beneficiary, an export bill can be discounted upon acceptance by the Issuing Bank. In the discounting of drafts, interests and charges are deducted up front and loans are disbursed after such deduction.
  • Open Account Trade Finance
    Financing of the Exporter where trade documents are not sent through the banking system but directly to the Importer. Banks will provide Open Account Financing for the credit period offered by the Exporter to his Importer.
  • Export Documentary Collection
    Documentary Collection is the process in which the seller instructs his Bank to present documents in relation to a trade deal to the buyer’s Bank to present or release documents to the buyer against payment or acceptance of drafts payable at a determinable future date.
  • Banker's Guarantee
    A Banker's Guarantee is an undertaking given by the Bank (guarantor) to pay the Beneficiary a certain sum of money within a specified period if the Beneficiary certifies that the Applicant (principal) failed to fulfil his contractual or other obligations of an underlying transaction. It is normally used to secure either a financial or performance obligation of the principal.
  • Standby Letter of Credit (SBLC)
    Standby Letter of Credit (SBLC) is used to ensure the Issuer's Bank undertakes to independently guarantee repayment of loans, ensure fulfilment of a contract, and secure payment for goods delivered by third parties against Beneficiary's first demand.

Other Services

Business Internet Banking Plus (BIBPlus)

Business Internet Banking Plus (BIBPlus)

Show moreShow less
Foreign Exchange

Foreign Exchange

Show moreShow less
  • Banker's Guarantee (BG)
    Follow up on the release of BG to beneficiary when the notification has been issued.

  • Trust Receipts
    Receive notification on your approved import loan or invoice financing.

  • Reminders to pay Inward Bills and Import Loan or Invoice Financing
    Importers will receive a reminder two days before their inward bills (LC or non-LC) and import loan or invoice financing are due for payment.

  • Letter of Credit (LC) Advice
    Receive notification of your export LCs advised through UOB.

  • Inward Bills
    Receive notification of all inward bills (both LC and non-LC) to arrange for acceptance or settlement.

  • Incoming Trade Receipts
    Receive notification on your export receipts credited to your UOB accounts.

  • Letter of Credit (LC) Issuance
    Follow up with your supplier for shipment when you receive notification that your import LC has been issued.
  • Monitor the status of your export documents with Click & Track*, at no additional cost
  • Enjoy extended cut-off time to 6 p.m. for issuance of LC
  • Our dedicated team of Treasury Specialists offer advice to manage your FX exposure and risk
  • Enjoy preferential FX rates** when you book through our FX hotline or the eFX platform

Trade Counters

To collect trade documents or to submit the application forms, please visit us at any of the following Trade Counters:

Boon Lay

325 Boon Lay Place
#03-00 Singapore 649886

 

Raffles Place

80 Raffles Place
#07-00 UOB Plaza 2 Singapore 048624

 

Tampines

1 Tampines Central 1 #02-01 UOB Tampines Centre Singapore 529539

 

Jalan Sultan

100 Jalan Sultan
#01-29 Sultan Plaza Singapore 199001

 

Tai Seng

30 Tai Seng Street
#01-01 Breadtalk IHQ Singapore 534013

 

Thomson

251/253 Upper Thomson Road
#02-00 Singapore 574375

 

How to Apply

Request for Callback

Request for Callback

Leave us your contact details so that we may reach out to you

Click here

 

Call our Corporate Transaction
Service Hotline at 6878 0707

Visit a UOB Branch


Terms and conditions of UOB Trade Services apply.

* This service is only available if shipping documents are couriered via DHL
** Perferential rate is applicable only for FX contracts amount equivalent to S$20,000 and above, enquired via our FX hotline or eFX platform