Trade Solutions

  • trade-solutionstrade-solutions

    Unlock your business potential with UOB Trade Solutions

Overview

As a leading player in the SME market, our core strength lies in our ability to combine our knowledge and experience in the SME market with innovative financial solutions to meet our customers’ changing needs. As you strive to accelerate your international trade business , we can provide the comprehensive trade solutions you need to mitigate risks of dealing with less familiar counterparties , financial institutions or higher risk countries .

To an importer or exporter, the risks and complexity of international trade can be overwhelming. UOB offers you a comprehensive trade solutions to manage your trade transactions efficiently and reduce inherent risks of international trade - allowing you to focus on growing your business.

Features

  •  Bridge cash flow gap between settlement with supplier and payment from buyer
  • Customized solution to suit your specific trading cycle
  • Take possession of your goods to avoid demurrage costs due to delays in the arrival of import documents
  • Enjoy direct links with worldwide trading parties through the UOB’s excessive network of regional office and worldwide correspondent relationships

Types of Import services

  • Import letter of credit
  • Trust receipt
  • Import Documentary Collection
  • Shipping Guarantee

Eligibility

All businesses incorporated in Singapore are eligible to apply.

  • Convert your trade receivables into cash by negotiating export L/C documents that are in compliant / purchasing of Export bill after accepted by the buyer.
  • Provide confidence in dealing with less familiar counterparties / riskier countries through confirmation of a letter of credit
  • Experienced documentary checkers that will check and verify documents are in order- thereby avoiding documents having discrepancies which may resulted to non payment from issuing bank.

Types of Export services

  • Advising of Export Letter of Credit
  • Negotiation of Export Letter of Credit
  • Transferring of Export Letter of Credit
  • Confirmation of Export Letter of Credit
  • Purchasing of Export Bill
  • Packing of Credit Loan
  • Invoice financing
  • Financing of Open Account trade transaction
  • Export Documentary Collection

Eligibility

All businesses incorporated in Singapore are eligible to apply.

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Guarantees

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Loan Insurance Scheme (LIS)

(Government assistance Scheme administered
by SPRING Singapore and IE Singapore)

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  • Provide assurances to your buyer/ seller that if you fail to fulfill your contractual obligations, they are assured payment by claiming under the guarantees.
  • Guarantee payment to your beneficiary without tying up huge amounts of working capital / cash

Type of Guarantees

  • Bid Bond
  • Performance Bond
  • Warranty Bond
  • Advance Payment Guarantee
  • Financial Guarantee

Eligibility

All businesses incorporated in Singapore are eligible to apply.

  • Alternative access to funding for local companies through the use of loan insurance
  • Supports both domestic and export trade loan facilities

Eligibility

Facilities for Domestic* Trade 
*Sales to local customers

  • Company registered & operating in Singapore
  • At least 30% local shareholding
  • Group` annual sales of ≤ S$100m or group` employment ≤ 200

Facilities for Export^ Trade

^Sales to Overseas customers

  • Global headquarters** anchored in Singapore
  • At least 3 strategic functions*** in Singapore:-
  • Annual sales turnover of applicant company and its subsidiaries ≤ S$300m for non-trading companies and ≤ S$500m for trading companies.

    ` Group is defined as all levels up for corporate shareholders holding > 50% of total shareholding of the applicant company and any subsequent corporate parents, and subsidiaries all levels down.

    ** An entity is considered to have its Global HQ anchored in Singapore where: 1. more than 50% of the Board of Directors are Singaporeans or Permanent Residents of Singapore;2. the more control and management of the QSE’s ultimate corporate parent (the Parent) is exercised in Singapore;3.the chief executive officers of the Parent responsible for the global decisions of the Group are based in Singapore; and 4.the Parent’s Board of Directors meeting are held in Singapore.

    *** Strategic business functions refer to activities such as
    (i) banking & financial, (ii) marketing and business planning,
    (iii) procurement, logistic, (iv) training & personnel management,
    (v) investment planning/co-ordination, (vi) R&D and design,
    (vii) technical support, (viii) manufacturing, and (viiii) othervalue-added (VA) activities.


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Other Trade Related Services

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  • Minimize your receivables risk with credit protection against Buyer’s payment default
  • Receive up to 90% of cash against your invoices
  • Leverage on the Bank’s collections services

Eligibility

All businesses incorporated in Singapore are eligible to apply.

BIB Plus

  • Fully integrated internet banking that allows timely and seamless electronic submission of trade applications
  • Convenience in tracking transaction history and status pertaining to a specific transaction.

Foreign exchange services

  • Enjoy competitive rates for wide range of foreign currencies  and the ability to hedge foreign exchange exposures.
  • Secure “live” foreign exchange rates online with UOB eFX service via Business Internet Banking and enjoy real-time foreign exchange services.

Requirements

  • To apply, all corporations have to set up an FX Line with the Bank. The FX line states the maximum amount and tenor that you may contract at any one time.
  • If your business currently has credit facilities (e.g. Letter of Credit, Trust Receipts or Overdraft line) with the Bank, you can arrange with your banker to restructure the credit line to accommodate the additional FX facility by earmarking a portion of the existing facilities.

eAlerts

Receives alerts via SMS or emails relating to your trade transactions .
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Banker’s Guarantee (BG)

Follow up on the release of BG to beneficiary when the notification has been issued.

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Trust Receipts

Receive notification on your approved import loan or invoice financing.

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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.

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Letter of Credit (LC) Advice

Receive notification of your export LCs advised through UOB.

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Inward Bills

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

cash-alerts

Incoming Trade Receipts

Receive notification on your export receipts credited to your UOB accounts.

letter-credit

Letter of Credit (LC) Issuance

Follow up with your supplier for shipment when you receive notification that your import LC has been issued.

Requirements

To apply for UOB eAlerts!, you require a corporate Current Account in any currency offered by UOB Group in Singapore and a Singapore-registered mobile number. You need to have approved trade credit facility with UOB to apply for Trade alerts service.

Contact Us

If you would like to apply for above financing, please visit any UOB Commercial Banking Hub:

Boon Lay Hub
325 Boon Lay Place #03-00, Singapore 649886
Tel: (65) 6263 0532

Jalan Sultan Hub
100 Jalan Sultan #01-29 Sultan Plaza,
Singapore 199001
Tel: (65) 6296 7452

 

Tai Seng Hub
30 Tai Seng Street #02-07 BreadTalk,
Singapore 534013
Tel: (65) 6282 2480

Tampines Hub
1 Tampines Central 1, #08-01 UOB Tampines,
Singapore 529539
Tel: (65) 6850 8857

 

Thomson Hub
251A-253A Upper Thomson Road, Singapore 574376
Tel: (65) 6456 2183

Alternative you may wise to visit any UOB Group Branch.

 

More Information

For Queries or Comments
Please Call our Commercial Banking Hotline 1800 22 66 121

or email us at CommercialBanking@uobgroup.com