IMPORT LETTER OF CREDIT

Assures payment when the seller's documents meet the conditions in the Letter of Credit

Why you will love this

Tap on our reputation to give your seller an assurance of payment

Get your transport documents checked by our trade finance experts

Letter of Credit terms that can be adapted to you and your seller's needs

FEATURES AND BENEFITS

Provides assurance to seller

Assures the seller of payment by relying on OCBC's credit worthiness.

Assures the seller of payment by relying on OCBC's credit worthiness.

Documents check

Leverage on OCBC's expertise to check documents.

Leverage on OCBC's expertise to check documents.

Pay only against complying documents

Stipulate documents to be presented and other terms and conditions as per the sales contract.

Stipulate documents to be presented and other terms and conditions as per the sales contract.

HOW IT WORKS
Process for pre- and post-shipment.

Step 1

Pre-shipment

Submit an application to OCBC Bank

Step 2

Pre-shipment

OCBC Bank sends Letter of Credit to the seller's bank

Step 3

Pre-shipment

Seller ships out goods and present the documents required by the Letter of Credit to his/her bank

Step 4

Post-shipment

We will notify you when the documents required by the Letter of Credit have been received and checked

Step 5

Post-shipment

You accept the bill and/or give payment instruction to OCBC Bank

Step 6

Post-shipment

Collect your documents required by the Letter of Credit to retrieve the goods
DIGITALISE YOUR TRADE FINANCE ON OCBC VELOCITY

Go Digital

OCBC VELOCITY
ocbc velocity

Don't have OCBC Velocity?

Apply for OCBC Velocity and manage your trade finance portfolio on-the-go.

BEFORE YOU APPLY

Trade transaction application

Log on to OCBC Velocity to apply or submit your completed application form to our Business Banking Service Desk.

  Trade application forms (EN)

  Trade application forms (BM)

Fees and charges

Fees and charges would depend on various factors such as transaction amount, tenor, currency and so forth.

View latest fees and charges 

Trade services cut-off time

Same day processing if your application is submitted by 5pm (for application that are in order).

  Trade services cut-off time

or call us at +603 8317 5200.

Monday to Friday 9am to 6pm
(Excluding public holidays)

OTHER PRODUCTS YOU MAY LIKE
OUR AWARDS AND ACCOLADES

Best Services (Asian Banks) 2021

Asiamoney Trade Finance Survey

Best in Treasury and Working Capital-SMEs – Malaysia 2021

The Asset Triple A Treasury, Trade, SSC and Risk Management Awards

Best Sustainable Trade Finance Solution in Malaysia 2020

Alpha Southeast Asia Best Deal & Solution Awards