Eliminate credit and country risks associated with your Letter of Credit
Eliminate credit and country risks associated with issuing banks with DBS Letter of Credit Confirmation service. When you are uncomfortable with the credit rating of the issuing bank or political climate of the issuing bank’s country, you can ask your buyer to allow us to confirm the Letter of Credit. Once confirmation is added and the presentation of documents is in order, we’ll negotiate your documents and convert your receivables to cash immediately.
Why choose DBS Letter of Credit Confirmation?
Pricing differs on a case-by-case basis. Our charges depend on the credit rating of the issuing bank, the amount and the validity period of the Letter of Credit.
Whoever bears the confirmation fee should be clearly defined in the Letter of Credit terms and conditions.
No. However, adding confirmation is subject to our comfort on the LC issuing Bank and country.
We can confirm your letter of credit within one working day, subject to our comfort on the LC issuing Bank and country.
Yes we can, as long as DBS is authorised to add confirmation.
How do I apply?
No application is needed. We will confirm your Letter of Credit automatically if it authorises DBS to add confirmation. We will notify you by sending you a letter when it has been completed.