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

Invoice Financing


 

Introduction

Invoice financing is another type of financing provided to importers, this transaction also mark trust receipt (TR) limit granted to the importers.

Unlike financing under import collection and import letter of credit, the trade documents does not go through the bank but sent directly from the exporter to the importer,  importer has to submit relevant trade documents to our bank for proof of genuine underlying trade when applying for invoice financing.

Product Features

1) Trade documents not through the bank, but sent directly from exporter to the importer, it saves bank charges.

2) Bank provides financing to the importers; the proceeds from sale of the goods will subsequently be used to pay off the loan.

Eligible Applicants

Suitable for importer with financing need but not handling trade documents through our bank.

Application requirements

1) Legally registered in Singapore.

2) Maintain current account with our bank.

3) Granted Trust receipt facility by our bank.

Application Procedures

1) Bank grants Trust Receipt facility to the importer.

2) Customer to sign a copy of “Master Trust Receipt Agreement”.

3) Applying for invoice financing, customer is to submit relevant trade documents for proof of genuine of the underlying trade. At the same time, provide our bank with Trust Receipt application form transaction by transaction, listing clearly the financing amount and relevant transaction information.

4) Bank provides financing and pay directly to importer’s supplier.

5) Customer pays off the loan when trust receipt falls due.

Download Forms

Form_Invoice Financing Application.doc

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