Purchase goods quickly and easily by transfering your export Letter of Credit
Secure the purchase of goods if you are acting as the middleman in a trade transaction. Instead of issuing a Letter of Credit to purchase goods that can then be sold against an Export Letter of Credit, DBS can help make the process simpler and quicker. We transfer your received Export Letter of Credit to your ultimate seller by issuing a Transferred Letter of Credit. You can easily enjoy this service without utilising a credit facility or cash deposit.
Why choose DBS Transferable Letter of Credit?
The Export Letter of Credit should specifically state that the Letter of Credit is "transferrable" and that DBS is authorised to do this. The terms and conditions of the Export Letter of Credit and the transferred Letter of Credit should be identical, except for the following:
No, you do not need a credit facility to apply for a Transferable Letter of Credit.
No, it can only be transferred to one or more second beneficiary, but cannot be further transferred.
Yes, you may choose to fully or partially transfer the Letter of Credit.
In the event you are unable to substitute the invoice and draft of the second beneficiary, DBS will send the full set of documents received from the second beneficiary to the issuing bank for payment.
How do I apply?Simply visit us at any of our Branches and our Relationship Manager will be glad to assist you.