Export Services

Letter of Credit Confirmation

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?

  • Grow your business with the Best Trade Finance Bank in India and the bank that was named the Rising Star for the Transaction Bank category, both awarded by The Asset in 2013
  • Leverage DBS’ outstanding credit rating to ensure you receive payment if the documents submitted are in compliance with the terms of the Letter of Credit
  • Mitigate risk with our Letter of Credit Confirmation services, because we absorb its country and credit risk
  • Benefit from our negotiation or discounting services if your documents comply with the Letter of Credit terms and conditions

FAQs

What do you charge for a 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.

Who will bear the confirmation fee?

Whoever bears the confirmation fee should be clearly defined in the Letter of Credit terms and conditions.

Do I need a credit facility for a letter of credit confirmation?

No. However, adding confirmation is subject to our comfort on the LC issuing Bank and country.

How long do you take to add confirmation?

We can confirm your letter of credit within one working day, subject to our comfort on the LC issuing Bank and country.

Can DBS add confirmation if the Letter of Credit is advised to another bank?

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.