Export Services

Transferable Documentary Credit

Purchase goods quickly and easily by transferring your export Documentary Credit

Secure the purchase of goods if you are acting as the middleman in a trade transaction. Instead of issuing a Documentary Credit to purchase goods that can then be sold against an Export Documentary Credit, DBS can help make the process simpler and quicker. We transfer your received Export Documentary Credit to your ultimate seller by issuing a Transferred Documentary Credit. You can easily enjoy this service without utilising a credit facility or cash deposit.

 

Why choose DBS Transferable Documentary Credit?

  • 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
  • Monitor the flow of payment and ensure that the outstanding balance of the transferred Documentary Credit is credited directly to you once it has been paid
  • Access advice and expertise on technical issues arising from your Transferred Documentary Credit with our experienced trade advisors
  • Ensure the terms of the Documentary Credit match your needs before it is issued with the help of our skilled, certified documentary checker

Product Details

The Export Documentary Credit should specifically state that the Documentary Credit is "transferable" and that DBS is authorised to do this. The terms and conditions of the Export Documentary Credit and the transferred Documentary Credit should be identical, except for the following:

  • The credit amount
  • Any unit price stated therein
  • The expiry date
  • The period for presentation
  • The latest shipment date or given period for shipment
  • The percentage for which insurance cover must be effected
  • The name of the first beneficiary may be substituted for that of the applicant
  • The identity of the ultimate buyer and seller would probably be disclosed from the documentation submitted by the ultimate seller
  • If the ultimate seller is unable to submit the full set of documentation required by the transferred Documentary Credit, there is a risk of non-compliance with the terms and conditions of the Export Documentary Credit. This can result in non-payment from the Export Documentary Credit issuing bank

FAQs

Do I need a credit facility to apply for a Transferrable Documentary Credit?

No, you do not need a credit facility to apply for a Transferrable Documentary Credit.

Can the transferred Documentary Credit be further transferred again?

No, it can only be transferred to one or more second beneficiary, but cannot be further transferred.

Can I partially transfer the Documentary Credit?

Yes, you may choose to fully or partially transfer the Documentary Credit.

If I am unable to substitute the draft and invoice in time, how do you proceed?

In the event you are unable to substitute the invoice and draft, DBS will send the full set of documents received from the second beneficiary to the issuing bank for payment.

How do I complete the application form?

Please call us at 2290 8068 for help in completing the application form.

 

How do I apply?

Simply submit your application form at one of our Trade Collection Branches or Enterprise Banking Centres.

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Awards
Awards

Best Trade Finance Bank in Singapore, 2012, Alpha Southeast Asia

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