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What do you need help with?
you are in GROUP WHOLESALE BANKING
Transfer original Letter of Credit (LC) to your supplier without issuing a new LC.
UOB will pass the documents presented by your ultimate supplier to the Issuing Bank.
Original LC goods description transferred, ensuring consistency in requirements.
| Services | Fees |
| Handling Commission | Min. S$500, subject to bank arrangement |
| Services |
| Handling Commission |
Click here for other charges applicable to all trade products.
The LC can be transferred only in accordance with the terms and conditions stipulated in the original LC.
However, any or all of the below conditions may be reduced or brought earlier in the transferred credit to the second Beneficiary:
• The LC amount
• The unit price of goods
• The time of shipment
• The last date for presentation of documents
• The LC expiry date
The name of the Applicant can be substituted with the name of the first Beneficiary, unless the original LC stipulates that the name of the Applicant be used in any document other than the invoice. Instructions must also be provided on whether the bank is allowed to make any amendments to the original LC to the second Beneficiary.
If all or part of the LC is transferred, the first Beneficiary retains the right to substitute their own drafts and invoices for those of the second Beneficiary, if they so require.
LC Transferring fees are normally charged to the Beneficiary (Seller) unless otherwise agreed.
Receive an authenticated export LC, with the option to add confirmation.
Maximise your working capital and better manage your cash flow.
Secure business with assurance and confidence.
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