- Trade
- Import Services
- Letter of Credit Issuance
Letter of Credit Issuance
Guarantee payment to your suppliers
- Trade
- Import Services
- Letter of Credit Issuance
Letter of Credit Issuance
Guarantee payment to your suppliers
![users](/documents/1055043/7892328/028.png/00a52966-db35-32a7-dea8-260d125d42b2?t=1576047761325)
Stronger ties
Build stronger relationships and support new business opportunities
![content-edition](/documents/1055043/7892202/006.png/10026325-0a15-936f-a78f-24fd20455260?t=1576045648287)
On your terms
Ensure the necessary documents are received for goods clearance
![Secure](/documents/1055043/7892247/004.png/458fa2c3-d878-6a98-bb49-23326790e6a9?t=1576046458851)
secure
Documents are checked for compliance and terms before you make payment
![users](/documents/1055043/7892328/003.png/3214cac9-3708-0a76-e15c-95be647ef916?t=1576047752831)
Help when you need it
Our experts can offer you advice and expertise
![rewards](/documents/1055043/7892337/081.png/f6847088-f6d7-0794-118f-950c31cbd0ce?t=1576047875728)
Leverage our “AA-” and “Aa1” credit ratings
Provide your sellers with assurances of payment through our Letters of Credit
![delivery](/documents/1055043/7892292/005.png/00717add-a69b-4d4d-19f0-a9b9e43328b3?t=1576047280638)
Save time and ensure fast delivery
Apply for a Letter of Credit online via DBS IDEAL
Sight Letter of Credit | |
Issuing bank will honour payment at “sight”, meaning payment is made once documentation received is in order. |
Usance Letter of Credit | |
Issuing bank will accept the draft once all documentation received is in order and agree to pay on the due date. |
Red Clause Letter of Credit | |
Allows the issuing bank to make a partial advance payment to the seller upon receipt of documentation. |
- The buyer and seller enter into a contract and agree that payment be made on the basis of Letter of Credit
- Buyer approaches DBS (issuing bank) to issue Letter of Credit in favour of the seller
- DBS issues Letter of Credit which is advised through its branch or correspondent bank (advising bank) in the seller’s country
- Advising bank advises Letter of Credit to the seller
- Upon receipt of the Letter of Credit, the seller prepares shipment and delivers documents to presenting bank
- Presenting bank despatches documents to DBS for payment
- DBS pays the presenting bank upon verifying the documents are in order
Upon receipt of payment, presenting bank pays the seller - Buyer pays the document amount to DBS
- DBS forwards the documents to the buyer, who can now use them to obtain the goods
Submit your application through one of the following channels:
- DBS IDEAL*
- SmartForm
- API*
*Contact your Relationship Manager or call us at +886 2 66060302 for more information.
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“DBS helps us a lot in establishing whether the market, bank and customers are good enough for us.”
Mr Chandru Dadlani, Director - Aakash International Pte Ltd
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