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Transferable Letter of Credit (LC)

Transferable Letter of Credit (LC)

A simpler way for resellers to purchase goods.

Manage your cross-border trading and payment risks

Ideal for resellers

Ideal for resellers

You won't need to issue an LC to buy goods against an Export LC.

Convenient handover

Convenient handover

Let UOB pass your Export Transferrable LC to the final seller.

Leverage UOB's network and credit rating

Leverage UOB's network and credit rating

Enhance your business proposition and secure deals with confidence.

We'll help you get started

We'll help you get started

    Frequently asked questions

    What specific details can be revised in a Transferable LC?
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    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 to any UOB Group Branch.

    • The form is to bear signatures of the authorised Company Signatories and Company stamp.
    • The Original Export LC must be advised through UOB.

    Upon successful application/approval, the application for Transfer LC will be processed.

    You may collect trade documents or submit application forms at any of the following Trade Counters:

    Albert Street
    60 Albert Street #09-01
    OG Albert Complex Singapore 189969

    Cecil Street
    156 Cecil Street,
    Level 5 Far Eastern Bank Building, Singapore 069544

    Tampines
    1 Tampines Central 1
    #02-01 UOB Tampines Centre Singapore 529539

    Tai Seng
    30 Tai Seng Street
    #01-01 Breadtalk IHQ Singapore 534013

    Thomson
    251/253 Upper Thomson Road
    #02-00 Singapore 574375

    Woodlands
    6 Woodlands Square
    #08-02 Woods Square Tower 2 Singapore 737737

    West Hub
    8 Jurong Town Hall Road
    The JTC Summit #26-01
    Singapore 609434

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