Import Letter of Credit

Import Letter of Credit

Secure your shipment with confidence by issuing a Letter of Credit to your supplier.

  

Benefits

Creditworthy

Creditworthy

Letter of Credit is issued by a strong credit-rated Issuing Bank.

Payment security

Payment security

Payment is made upon Seller's fulfilment of the Letter of Credit's terms and conditions.

Financing your import needs

Financing your import needs

Option to apply for Trust Receipt or Bankers Acceptance Financing to improve cashflow.

How does a Letter of Credit work?

How does a Letter of Credit work?

Import Letter of CreditImport Letter of Credit

Types of Letter of Credit (LC)

Types of Letter of Credit (LC)

UOB Infinity Trade

Apply for a Letter of Credit on our Infinity Trade Platform
Step 1

Step 1

Log in via UOB Infinity.

Step 2

Step 2

Select Trade Services.

Step 3

Step 3

Select Import Letter of Credit, complete the application and press submit.

Ready to apply?

Ready to apply?

Get in touch

Frequently asked questions

Who are the parties involved in a Letter of Credit (LC)?
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Applicant

  • The Applicant is typically the buyer and the party that initiates the request to the Issuing Bank to issue an LC on its behalf. 

 

Beneficiary

  • The Beneficiary is typically the seller and the party who will receive payment if it fulfills all the terms and conditions of the LC.

 

Issuing Bank

  • The Issuing Bank is the Bank that issues the LC in favour of the seller, at the request of the buyer/applicant.
  • By issuing an LC, the Issuing Bank undertakes to pay the beneficiary if all the terms and conditions of the LC are complied with.

 

Advising Bank

  • The Advising Bank authenticates the LC received from the Issuing Bank and advises/ notifies the Beneficiary that there is an LC issued in his favour.

You may submit your application online via UOB Infinity or submit your application at any of our Trade Counters. Click here to find the Trade Counter nearest to you.

 

For collection of your trade documents, please refer to your designated Trade Counter.

Additional information

Product Disclosure Sheet
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You may refer to the Product Disclosure Sheet under Trade Services section.

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