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SUSTAINABLE TRADE FINANCE
Johor-Singapore SEZ
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you are in WHOLESALE BANKING
For Individuals
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Benefits
Easy way of settlement
Exporter receives payment or acceptance upon submission of shipping documents.
Secured payment
Receive payment from Buyer against shipping document being submitted to Collecting Bank.
Control of document
Document will be released by Collecting Bank to the Buyer upon their acceptance and/or payment.
Uniform Rules
Operated under the Uniform Rules for Collection, ICC Publication No. 522.
How does Export Documentary Collection work?
Document Submission
Based on the agreement/contract, Seller ships goods, prepare and send documents to UOB for onward presentation to Collecting/Buyer's bank.
Payment/Acceptance
UOB couriers documents to Buyer's bank (Collecting Bank) for acceptance and/or payment.
Bills of Exchange Purchased
Provide financing while Documents Against Acceptance/Documents Against Payment are being sent on a collection basis. A pre-approved facility is required for this service.
Settlement
Receive acceptance or payment from Collecting Bank.
How does Export Documentary Collection work?
Document Submission
Based on the agreement/contract, Seller ships goods, prepare and send documents to UOB for onward presentation to Collecting/Buyer's bank.
Payment/Acceptance
UOB couriers documents to Buyer's bank (Collecting Bank) for acceptance and/or payment.
Bills of Exchange Purchased
Provide financing while Documents Against Acceptance/Documents Against Payment are being sent on a collection basis. A pre-approved facility is required for this service.
Settlement
Receive acceptance or payment from Collecting Bank.
Who are the parties involved?
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Parties
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Role
| Parties | Role |
| Drawer | The Seller/exporter in the sales contract. They approach their bank (Remitting Bank) to initiate and authorise them to handle the Collection on their behalf. |
| Drawee | The Buyer/Importer in the sales contract. They will be presented with documents for the purpose of either payment/acceptance, in accordance with Collections instructions. |
| Remitting Bank | The Bank that Seller/Exporter authorises to carry out the Collections on its behalf and is tasked to obtain payment for the seller. |
| Collecting Bank | Any Bank other than the Remitting bank that is involved in obtaining payment or acceptance from the Importer/Buyer (drawee). |
| Parties |
| Drawer |
| Drawee |
| Remitting Bank |
| Collecting Bank |
Rates & fees
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Documentary Collection
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Fees
| Documentary Collection | Fees |
| Collection Fee | Ringgit: 0.1% flat with min RM50.00 max RM500.00 Foreign Currency: 0.1% flat with min RM50.00 max RM100.00 |
| Purchase Fee | Ringgit: 0.1% flat with min RM100.00 max RM500.00 Foreign Currency: RM100.00 |
| Documentary Collection |
| Collection Fee |
| Purchase Fee |
Click here for other charges applicable to all trade products.
Frequently asked questions
How will I know my documents are delivered?
Apply for UOB eAlerts! to receive real-time notifications on your document deliveries.
Where can I find a Trade Counter?
You may submit your application or collect your trade documents at any of our Trade Counters. Click here to find the Trade Counter nearest to you.
Additional information
Product Disclosure Sheet
You may refer to the Product Disclosure Sheet under Trade Services section.
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