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you are in GROUP WHOLESALE BANKING
Services | Description |
Letter of Credit Advising | When a bank issues a Letter of Credit (LC), it sends the LC to the Beneficiary's Bank, otherwise known as the Advising Bank. UOB, upon receiving the LC, will authenticate the LC and advise the LC Beneficiary that there is an LC for their collection. |
Letter of Credit Confirmation | The Issuing Bank may request for the Advising Bank to add confirmation to the LC. Upon agreement and adding of confirmation, UOB undertakes to pay the seller when the Issuing Bank does not fulfill its obligation. |
Packing Credit Loan | Packing Credit Loan is a pre-shipment export loan used for procuring raw materials and packaging materials. Provides working capital to the beneficiary to make the final goods. |
Services |
Letter of Credit Advising |
Letter of Credit Confirmation |
Packing Credit Loan |
Services | Fees |
Advising Original LC | UOB Customers:
S$30 flat Non-UOB Customers: S$50 flat |
Advising LC Amendment | UOB Customers:
S$30 flat Non-UOB Customers: S$50 flat |
Pre-Advice of LC (Brief Cable) | S$30 flat |
Confirmation of LC | Subject to bank arrangement |
Services |
Advising Original LC |
Advising LC Amendment |
Pre-Advice of LC (Brief Cable) |
Confirmation of LC |
Click here for other charges applicable to all trade products.
Log in via UOB Infinity.
Select Trade Services.
Navigate to Trade Account Services > Transactions and Reports > Advices and Notification to obtain a copy of your LC
The Advising Bank authenticates the LC received from the Issuing Bank and advices/notifies the Beneficiary that there is an LC issued in his favour.
It is advisable to check through the terms and conditions of the LC to ensure that it reflects what was agreed under the Sales Contract.
If in doubt on the LC terms, it is prudent to approach your banker for clarification, and if needed, request for an amendment from the Issuing Bank.
This will facilitate the document presentation stage where any discrepancies could result in a delay of payment, or non-payment.
LC Confirmation is usually requested if the seller is not comfortable with the creditworthiness of the Issuing Bank, and/or is concerned over the buyer’s country risk. In return, the seller is required to pay an LC confirmation fee to the Confirming Bank.
You may request for UOB to safe-keep your Export LCs to facilitate document presentation at a later stage.
If you need to collect the Original LC, you may do so at our Trade Counters. Click here to find the Trade Counter nearest to you.
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