Reassure your buyer or seller of payment with a Banker’s Guarantee/Standby Letter of Credit. In the event that you fail to fulfil your contractual obligations, we will honour payment to your beneficiaries upon receipt of a claim that complies with the guarantee terms.
How does Banker’s Guarantee/Standby Letter of Credit work?
Applicant and beneficiary enter into a contract and agree that a Banker’s Guarantee is required
Applicant approaches DBS (issuing bank) to issue a Banker’s Guarantee in favour of the beneficiary
DBS issues the Banker’s Guarantee, and
sends a financial instruction to an advising bank, which is usually located in beneficiary’s country, or
couriers the hardcopy Banker’s Guarantee to the beneficiary, or
notifies the applicant of self-collection at any of our branches
Once the advising bank receives the Banker’s Guarantee, it will advise it to the beneficiary
Why choose DBS Banker’s Guarantee/Standby Letter of Credit?
Grow your business with the Best Trade Finance Bank in Singapore, as named by Alpha Southeast Asia and The Asia Banker in 2012. We also received this accolade from Global Finance in 2012, for the 8th consecutive year
Leverage DBS Bank’s "AA-" and "Aa1" credit rating to provide your beneficiary with payment assurance upon receipt of claims made out in compliance with the guarantee terms
Submit your application through any DBS branch, or IDEAL™ (our online banking platform) for greater convenience
Collect your banker’s guarantee from our Trade Document Counters