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

Export Bills Processing under Documentary Credits


 

Introduction

Exporter (beneficiary) presents documents under documentary credit to us for checking, processing and dispatch to issuing bank for reimbursement. Upon receipt of payment, the export proceeds are credited to beneficiary’s account with us.

Benefits to exporter

1) Lower risk:  The importer’s credit risk is replaced by that of the issuing bank.

2) Payment guarantee:  Payment of export proceeds is guaranteed by the issuing bank as long as exporter ensures that compliant documents are presented under the documentary credit.

Application Requirements

1) Exporter (beneficiary) must maintain a banking account with us.

2) Exporter must present documents to us together with the original documentary credit and all its amendments (if any) and the Bank’s application form.

Download Forms

Form_Application for Processing of Documents Under Documentary Credit.doc

Form_Bills of Exchange.doc

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