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What do you need help with?
you are in GROUP WHOLESALE BANKING
Exporter receives payment or acceptance upon submission of shipping documents.
Receive payment from buyer against shipping document being submitted to collecting bank.
Document will be released by collecting bank to the buyer upon their acceptance and/ or payment.
Operated under the Uniform Rules for Collection, ICC Publication No. 522.
Base on the agreement/ contract, seller ships goods, prepare and send documents to UOB for onward presentation to collecting/ buyer's bank.
UOB couriers documents to buyer's bank (collecting bank) for acceptance and/or payment.
Provide post-shipment financing to improve cashflow and working capital.
Receive acceptance or payment from collecting bank.
Base on the agreement/ contract, seller ships goods, prepare and send documents to UOB for onward presentation to collecting/ buyer's bank.
UOB couriers documents to buyer's bank (collecting bank) for acceptance and/or payment.
Provide post-shipment financing to improve cashflow and working capital.
Receive acceptance or payment from collecting bank.
| Parties | Role |
| Drawer | The Seller/exporter in the sales contract. They approach their bank (Remitting Bank) to initiate and authorise them to handle the Collection on their behalf. |
| Drawee | The Buyer/Importer in the sales contract. They will be presented with documents for the purpose of either payment/acceptance, in accordance with Collections instructions. |
| Remitting Bank | The Bank that Seller/Exporter authorises to carry out the Collections on its behalf and is tasked to obtain payment for the seller. |
| Collecting Bank | Any Bank other than the Remitting bank that is involved in obtaining payment or acceptance from the Importer/Buyer (drawee). |
| Parties |
| Drawer |
| Drawee |
| Remitting Bank |
| Collecting Bank |
| Services | Fees |
| Handling Commission | 1/8%, min. S$75 |
| Unpaid & Returned Items | S$75 flat |
| Holding Fee | S$50 per month (after 2 months) |
| Amendment Fee | S$30 flat |
| Services |
| Handling Commission |
| Unpaid & Returned Items |
| Holding Fee |
| Amendment Fee |
Click here for other charges applicable to all trade products.
Log in via UOB Infinity.
Select Trade Services.
Select trade product, complete & submit trade application or performing enquiry function.
Apply for UOB eAlerts to receive real-time notifications on your document deliveries.
You may submit your application or collect your trade documents at any of our Trade Counters. Click here to find the Trade Counter nearest to you.
Secure payment against presentation of compliant documents under Export Letter of Credit.
Maximise your working capital and better manage your cash flow.
Guarantee payments to your beneficiaries while optimising working capital.
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