Trade Solutions

  • trade servicestrade services

    Comprehensive trade services

Overview

As a leading bank in Asia, our core strength lies in our ability to combine our industry-specific knowledge and experience to provide 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
  • 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
  • invoice financing

Eligibility

All businesses incorporated in Singapore are eligible to apply

  • Convert your trade receivables into cash when documents are in compliant / documents are being 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 contractual disputes or non- payment by importer bank due to inaccurate / defective documentation.

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
  • Discounting of Trade Bill
  • Financing of Open Account trade transaction
  • Export Documentary Collection

Eligibility

All businesses incorporated in Singapore are eligible to apply

  • Provide assurances to your buyer/ seller that if you fail to fulfill your contractual obligations, they are assured payment via claiming on guarantees.
  • Guarantee payment without tying up huge amounts of working capital / cash
  • Provides an avenue to tender for big contracts with governments and large organizations.

Type of Guarantees

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

Eligibility

All businesses incorporated in Singapore are eligible to apply

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Accounts Receivables Financing

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  • Convert your open account trade receivables into immediate cash
  • Release cash flow for faster payment to supplier thereby allowing you to negotiate better rates and terms.

Eligibility

All businesses incorporated in Singapore are eligible to apply

  • Minimize your export risk with credit protection option
  • Improve cash flow by transforming your book debts into cash by advancing up to 80% of your credit term invoice value.

Eligibility

All businesses incorporated in Singapore are eligible to apply

 

Other Trade Related Services

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Foreign exchange services

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  • 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.
  • 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.

Receives alerts via SMS or emails relating to your trade transactions .

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.

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.


 

United Overseas Bank Limited (UOB) is a leading bank in Asia which provides a wide range of financial services. Our corporate banking team works closely with corporates to offer innovative and customised banking and financial risk management services that meet their specific priorities. Our deep client relationships are based on the premise that we care for our clients’ businesses as if they were our own. Our relationship managers, comprising industry experts with in-depth industry-specific knowledge, work with product specialists to provide a full suite of customised solutions, from working capital and term lending, cash management, trade finance and financial supply chain management, to global markets and risk management solutions, as well as capital-raising and advisory capabilities. Through UOB’s extensive branch network in ASEAN and the rest of the world, we also provide seamless, cross-border banking solutions to help our clients manage and expand their businesses across borders.

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Contact Us

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For Queries
Please call us at (65) 6922 7300 or

email


Email us at Corporate.Banking@UOBgroup.com

Via Branch

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Alternative you may  wish to visit any UOB Group Branch

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