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 will 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 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’ outstanding credit rating to ensure you receive payments if the documents submitted are in compliance with the terms of the Letter of Credit
  • Mitigate risk with our Letter of Credit Confirmationservices, 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.

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

No. However, adding confirmation is subject to availability of the issuing bank and the country limit.

How long do you take to add confirmation?

We can confirm your letter of credit within one working day, subject to availability of the issuing bank and the country limit.

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.

Who will bear the confirmation fee?

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

 

How do I apply?

Simply call us at 400 820 8988 (or +86 400 820 8988 if you're overseas) or visit any of our Branches. You may also email us and our Relationship Manager will contact you as soon as possible.

 

Disclaimer:

The information provided in this website is for general information only and nothing contained in this website constitutes an invitation, offer or solicitation with respect to the entry into transactions mentioned in this website or subscription, purchase or sale of any products, services, securities or other financial instruments mentioned in this website or the taking of any position or the adoption of trading strategy in respect of any asset class (eg. currency, interest rate, commodity, equity etc). The information provided in this website is not provided with regard to the specific investment objectives, financial situation and the particular needs of any particular person who accesses this website.

 

The information provided on this website is subject to change without notice, its accuracy is not guaranteed, and it may be incomplete or condensed. Accordingly, no representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information in this website. We are not acting as your advisor or agent when providing the information in this website. The information in this website does not purport to identify the risks (direct or indirect) or other material considerations which may be associated with you entering into a particular transaction, subscribing for a particular service or purchasing or selling a particular security or financial instrument. Prior to entering into any proposed transaction or entering into any subscription, purchase or sale of any security or financial instrument, you should determine (after consultation with your own advisors if you deem fit), without reliance upon us or our affiliates, the economic risks and merits, as well as the legal, tax, accounting or other material characterisations and consequences of the transaction, subscription, purchase or sale, as the case may be, and that you are able to assume these risks.

 

We, and/or our affiliates, may hold, or trade, or act as market-maker, in any securities or other financial instruments mentioned in this website or related derivatives or may take positions or use trading strategies in respect of any asset class similar to or which differ from or be contrary to those mentioned in this website. We, and/or our affiliates conduct many businesses and activities that may relate to issuers of third party securities mentioned in this website and may provide broking, banking and other financial services to such issuers.

 

Anyone receiving or accessing this website must make their own assessment of the materials herein and conduct such investigations and seek such professional advice as they think fit for such purpose. The information provided on this site should not be regarded by recipients as a substitute for the exercise of their own judgment.

 

© DBS BANK LTD, 2013. All rights reserved. Any unauthorized use, duplication or disclosure is prohibited by law and will result in prosecution.

Awards
Best Structured Trade Finance Solution, China 2015

Best Structured Trade Finance Solution, China 2015

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