Export Services

Letter of Credit Confirmation

Eliminate credit and country risks associated with your Letter of Credit

Eliminate credit and country risks associated with issuing banks with DBS Letter of Credit Confirmation service. When you are uncomfortable with the credit rating of the issuing bank or political climate of the issuing bank’s country, you can ask your buyer to allow us to confirm the Letter of Credit. Once confirmation is added and the presentation of documents is in order, we’ll negotiate your documents and convert your receivables to cash immediately.

 

Why choose DBS Letter of Credit Confirmation?

  • Grow your business with the Best Trade Finance Bank in Singapore, as named by Alpha Southeast Asia and The Asia Banker in 2012. We also received this accolade from Global Finance in 2012, for the 8th consecutive year
  • Leverage DBS’ outstanding credit rating to ensure you receive payments if the documents submitted are in compliance with the terms of the Letter of Credit
  • Mitigate risk with our Letter of Credit Confirmation services, because we absorb its country and credit risk
  • Benefit from our negotiation or discounting services if your documents comply with the Letter of Credit terms and conditions

FAQs

What do you charge for a Letter of Credit Confirmation?

Pricing differs on a case-by-case basis. Our charges depend on the credit rating of the issuing bank, the amount and the validity period of the Letter of Credit.

Who will bear the confirmation fee?

Whoever bears the confirmation fee should be clearly defined in the Letter of Credit terms and conditions.

Do I need a credit facility for a letter of credit confirmation?

No. However, adding confirmation is subject to availability of the issuing bank limit.

How long do you take to add confirmation?

We can confirm your letter of credit within one working day, subject to availability of the issuing bank limit.

Can DBS add confirmation if the Letter of Credit is advised to another bank?

Yes we can, as long as DBS is authorised to add confirmation.

Awards

Awards we have won recently
Best Trade Finance Bank in Singapore

Best Trade Finance Bank in Singapore

2012
Best Trade Finance Bank in Singapore

Best Trade Finance Bank in Singapore

2012
Best Trade Finance Bank in Singapore

Best Trade Finance Bank in Singapore

2013
View All

 

How do I apply?

No application is needed. We will confirm your Letter of Credit automatically if it authorises DBS to add confirmation. We will notify you by letter when it’s been completed.

Get in Touch

DBS BusinessCare: 2290 8068

Get in Touch

DBS BusinessCare: 2290 8068