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?
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:
No, you do not need a credit facility to apply for a Transferrable Documentary Credit.
No, it can only be transferred to one or more second beneficiary, but cannot be further transferred.
Yes, you may choose to fully or partially transfer the Documentary Credit.
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.
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.