Import Letter of Credit
Assures payment to your seller
if their documents meet the terms
& conditions of your LC
- Tap on OCBC's reputation to give your seller assurance of payment when the documents meet the terms and conditions of the LC
- Get your transport documents checked by OCBC's trade experts
How it works
Available options & issuance fees
| Without trade credit facility with OCBC |
|---|
| 0.125% of LC value monthly |
| Minimum of 2 months but not less than S$200 per LC If the LC value is less than S$200,000, a S$100 fee applies |
With trade credit facility with OCBC
- 0.125% of LC value monthly
- Minimum of 2 months but not less than S$75 per LC
Amendment and other fees
For increasing the LC amount | 0.125% of the additional LC amount monthly, minimum of 2 months but not less than S$75 |
|---|---|
For extending the LC expiry date | 0.125% of the LC amount monthly, minimum fee of S$75 |
For other amendments | S$60 |
Draft acceptance for usance LC | 0.125% of the bill amount monthly, minimum fee of S$75 |
Cancellation fees | S$50 |
Convenience for your trade processes
Service commitment
Same-day LC issuance
(when your application is in order).
Late cut-off time
Cut-off time at 6pm allows greater flexibility.
(Mon to Fri, excluding public holidays)
Electronic submission
Velocity@ocbc (business internet banking) provides increased convenience with same commitment to service turnaround.
How to apply
If you have trade credit facility with OCBC
Submit the completed form at a Trade Service Centre near you.
If you do not have trade credit facility with OCBC
Submit the completed form at a Trade Service Centre near you.
Add-on services
Shipping guarantee
Take delivery of the goods before the receipt of the bill of lading / airway bill.
Trust receipt
Get financing for your purchases under LC.
