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Letter of Credit Advising

Letter of Credit Advising

The bank provides L/C Advising service to the beneficiary mentioned in L/C.

Overview

The bank will check the authenticity of L/C prior to advise to the beneficiary

Benefits

L/C assurance

L/C assurance

Be assured to receive the authenticated L/C.

Flexible utilisation

Flexible utilisation

Be able to use L/C for other related services such as Packing Credit and Export Bills under Letter of Credit.

At a glance

  • Features
  • Descriptions
Features Descriptions
Key features • Provide safekeeping the original L/C to prevent loss. • Advise L/C which are received from all over the world via our UOB network and our network of partner banks.
Features
Key features

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Additional information

Quick product overview
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Download the product fact sheet for Letter of Credit Advising

Required Documents for Application

To apply for the Letter of Credit Advising service, exporters should prepare the following documents:
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  • Service request form (available for download from UOB’s website or at any branch)
  • A copy of the Letter of Credit issued by the issuing bank
  • Supporting trade documents such as Sales Contract, Pro-forma Invoice, or Purchase Order
  • A copy of the national ID or company registration certificate (for corporate applicants)
  • Bank account documents used for receiving payments (especially if applying for related
  • services such as Export Bills or Packing Credit)

UOB’s Letter of Credit Advising service offers several advantages tailored for exporter or beneficiary under LC:

  • Enhanced payment assurance: The bank verifies the authenticity of the L/C before notifying the beneficiary.
  • Reduced risks in cross-border transactions: Especially when confirmation is added to the L/C.
  • Support for international market expansion: Through UOB’s global banking network.
  • Access to trade finance solutions: Such as Packing Credit or Export Bills to improve cash flow.
  • Secure document handling: Original L/C documents are safely stored to prevent loss.
  • The bank will verify the accuracy of the L/C before advising the beneficiary.
  • Sellers should carefully review the terms in the L/C to ensure they align with the sales agreement. The bank offers consultation if needed.
  • L/C confirmation can be requested if the seller has concerns about the issuing bank’s credibility or the buyer’s country.
  • Advising fees:
    • UOB customers: approx. SGD 30 per transaction
    • Non-UOB customers: approx. SGD 50 per transaction
    • L/C confirmation fees: subject to case-by-case agreement

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