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   BOC Singapore >> Corporate Banking >> Trade Finance >> Trade Settlement

Advising of Export Credit


 

Introduction

Documentary credits or amendments are sent by the issuing bank to us for advising a local exporter (beneficiary). The credits or amendments may be sent to us via mail or swift.

Application Requirements

1)  The issuing bank must have a correspondent banking relationship with us whereby there is an exchange of authorized signatures booklet or swift authentication arrangement.

2)  Before advising the beneficiary, we being the advising bank must ensure the authenticity of the documentary credits or amendments received via verification of the authorized signatures therein (for mail credits/amendments) or ensure that the swift messages are authenticated.

3)  Upon receipt of the documentary credits, the exporter (beneficiary) must check the terms and conditions therein to ensure they are in order otherwise, to liaise with the importer (applicant) to arrange for an amendment.

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· Forfaiting
· Export Bills Processing under Documentary Credits

Trade Finance

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