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Import Letter of Credit

OCBC Bank has just the right product for you. As your business partner we will issue Letters of Credit on your behalf to your suppliers in any part of the world through our global network of offices, agents and correspondent banking relationships. Payment will only be made upon compliance with the L/C terms.

Whether you are importing raw materials or buying them domestically, you need the assurance to know that you will be receiving the correct merchandise in respect of its quality, quantity and terms of delivery. You need an independent party to ensure that payment will only be released to your suppliers upon their presentation of satisfactory evidence of shipping the correct goods in the correct quality and quantity in the correct manner.

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Benefits

	A Financing opportunity

	Examination of documents by an expert

	Payment is made after compliance with LC terms

Why OCBC Bank?

	By transferring the reputation and credit strength of OCBC Bank to your business via the Letter of Credit, you are in command in your business negotiation as your supplier is well protected against cancellation of your orders.

	OCBC Bank's state of the art secured internet banking application, Velocity@ocbc allows you to apply for Letter of Credit electronically at your convenience and provides you with extensive information on your transactions records with the Bank.

	You may also opt for OCBC Bank's softcopy application form for your processing and filing convenience.

	Your Letter of Credit application will be processed within the same day if your application is received by our Business Banking Service Desk before 5:00pm from Monday to Friday*, thus freeing more time for you to manage your business.

	Upon issuance of your Letter of Credit, a copy will be made available to you via fax for you to extend it to your supplier where necessary, so that your supplier may expedite shipment to ensure you optimize your business returns.

How do you get OCBC Bank to issue your Letter of Credit?

	For your Ad Hoc requirements, you may leverage on OCBC Bank's Cash-Backed Letter of Credit service to maximize your resources to seize every trade opportunities.

	Establish a credit facility with OCBC Bank to enable smooth processing of your regular requirements, and let the trade specialists take care of your Letter of Credit applications.

Please contact your Trade Sales Managers or your Relationship Manager to obtain more information about our Letters of Credit Issuance services.

*Terms and Conditions apply

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