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you are in WHOLESALE BANKING
Taking care of your business payments
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Letter of Credit-i (LC-i) is an irrevocable written conditional undertaking given by the Bank (Issuing Bank) to the Seller (Beneficiary) for account of the Buyer (Customer) to pay the Seller a certain sum of money as stipulated in the LC-i upon compliance with the terms and conditions of the said LC-i.
Based on Shariah principle of Wakalah. |
Letter of Credit-i is issued by a strong credit-rated Issuing Bank.
Option to apply for Trust Receipt-i or Accepted Bills-i financing to improve cashflow.
Payment is made upon fulfillment of the Letter of Credit-i terms and conditions.
After the Buyer and Seller establish an agreement, Buyer applies for a Letter of Credit-i (LC-i). UOB issues the LC-i.
Once goods are shipped, Seller submits documents to their banker. Presenting Bank checks if documents are compliant and sends documents to UOB.
Buyer may apply for post-shipment financing and take possession of the goods on trust under Trust Receipt-i or finance the payment under Accepted Bills-i.
UOB checks documents for compliance to LC-i terms. Buyer to provide settlement instruction before documents are released.
After the Buyer and Seller establish an agreement, Buyer applies for a Letter of Credit-i (LC-i). UOB issues the LC-i.
Once goods are shipped, Seller submits documents to their banker. Presenting Bank checks if documents are compliant and sends documents to UOB.
Buyer may apply for post-shipment financing and take possession of the goods on trust under Trust Receipt-i or finance the payment under Accepted Bills-i.
UOB checks documents for compliance to LC-i terms. Buyer to provide settlement instruction before documents are released.
Log in via UOB Infinity.
Select Trade Services.
Select Import Letter of Credit / Import Letter of Credit-i, complete the application and press submit.
Get the best support for your business
Better cash flow for your business
Improve your cash flow and working capital with Invoice Financing-i
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