Transferable Letter of Credit

  • Transferable Letter of Credit

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Overview

If you are a middleman/reseller in a transaction, you can request for UOB to transfer your Export Transferrable Letter of Credit (LC) to the final seller. This will eliminate the hassle of issuing an LC to purchase the goods before selling them against an Export LC, thereby helping you quickly secure the goods you have purchased.

UOB Export Trade Services Fee

UOB's rates, commissions and charges are in line with the market and are competitive. We strive to deliver professional, reliable and quality services. 

Trade Finance Services Fees > Export Services
Advising of Letters of Credit (LCs)
Pre-advice of LC (Brief Cable) / Advising Original LC / Advising LC Amendment
  • Account Holder
S$30 flat
  • Non-account Holder
S$50 flat
 
Confirmation of Letters of Credit
Confirmation of Letters of Credit (LC)
Subject to arrangement
 
Negotiation under Letters of Credit (LC)
Export Bill Negotiation 1/8%, min. S$75
Bank Acceptance Subject to arrangement
Countersign Letter Of Indemnity To Other Banks (subject to arrangement) 1/8% for two months, min. S$75
 
Transferable Letters of Credit
Transfer (subject to approval):
  • Full Transfer (without substitution)
Subject to arrangement
  • Partial Transfer
Subject to arrangement

Why Choose UOB

features

Leverage UOB’s strong credit rating

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Extend your connections through UOB Group’s extensive network

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Manage trade transactions more efficiently

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Enhance the acceptability of your business proposition and secure your deal by applying for a UOB Banker's Guarantee or SBLC.

Gain direct access to trading parties worldwide through UOB Group's extensive network of regional office and worldwide correspondent relationships, as well as in-depth understanding of in-country regulations, operating environment, business practices and risks.

Take advantage of our electronic channels to help you manage your trade transactions more effectively

  • UOB Infinity (digital banking for business) - Allows seamless electronic submission of applications and timely update of transaction records.
    Find out more

  • UOB eAlerts - Receive trade alerts on the status of your import transactions.
    Find out more

FAQ

The LC can be transferred only in accordance with the terms and conditions stipulated in the original LC, with the exception of the following which may be changed:

  • the LC amount
  • the unit price of goods (if stated in the original LC)
  • the time of shipment
  • the last date for presentation of negotiation documents
  • the expiry date of LC
  • Any or all of the above may be reduced in the transferred credit to the second Beneficiary.

The name of the Applicant can be substituted with the name of the first Beneficiary, unless the original LC stipulates that the name of the Applicant be used in any document other than the invoice. If all or part of the LC is transferred, the first Beneficiary retains the right to substitute their own drafts and invoices for those of the second Beneficiary, if they so require. Instructions must also be provided on whether the bank is allowed to make any amendments to the original LC to the second Beneficiary.

UOB can consider transferring the LC if it is stipulated and requested by the Issuing Bank. LC Transferring fees are normally charged to the account of the Beneficiary (Seller) unless otherwise agreed.
If you currently do not have any facilities with UOB, but wish to apply for the Transfer of a Letter of Credit by the Bank, please indicate interest via our callback form and one of our Sales staff will be in contact shortly.

If you have any existing credit facilities with us, please contact your Relationship Manager, or apply for BG online via UOB Infinity.

Submit the completed Transfer LC Form together with the Original Export LC (LC must be advised through UOB) to any UOB Group Branch. The form is to bear signatures of the authorized Company Signatories and Company stamp. Upon successful application/approval, the application for Transfer LC will be processed.

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

 

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