The world is your marketplace and you want to bring your products and services beyond Singapore's shores. With Maybank's range of short-term financial instruments for exporters, you can get the necessary safeguards for your interests while honouring your obligations.
Transferable Letter of Credit
Transferable Letter of Credit has the advantage of allowing you to easily transfer a Letter of Credit without utilizing a credit facility or cash deposit, hence freeing up your cash flow for your business needs. Instead of issuing a Letter of Credit to purchase goods that can then be sold against an Export Letter of Credit, a transferable letter of credit might be a faster way of completing your trade transaction. It may be transferred in full or partially in amount and / or quantity to the second beneficiary and is readily available for companies from new startups to established businesses.
The Master Letter of Credit must specify that LC is “transferable” and that Maybank to be named as the transferring bank. The terms and conditions of the Export Letter of Credit and the transferred Letter of Credit should be identical, except for the following:
- your name/company that may be substituted into the transferable letter of credit
- credit amount
- unit price
- expiry date
- period for presentation
- latest shipment date or period for shipment
Export LC Bills
With this Letter of Credit (LC) facility, you can receive payment immediately after shipment of goods upon presentation of your compliant documents. Maybank can also help you to
- Purchase/discount/negotiate the bill subject to final payment
- Purchase/discount/negotiate the bill subject to final payment (without advance), and to credit your account only upon receipt of funds from the reimbursing/paying bank
- Present to issuing bank for payment
We will process the Export LC bill according to your instructions. This means you will have
- No need for a credit line, if you are only negotiating bills
- Improved cashflow as your bills are converted into cash almost immediately
Outward (Export) Collection Bills
This is another major means of payment in international trade. You can ship the goods, prepare the documents and send them to the bank for collection. Maybank can either purchase your invoices if you need fast payment, or pay you when we receive the funds from your buyer. Payment terms can either be Documents released against Acceptance (DA) or Documents released against Payment (DP), providing you with
- Uncomplicated and inexpensive transactions
- Security in the knowledge that documents/title documents will not be released to the buyer until payment or acceptance has been effected
With export financing made simple, your company can grow steadily and safely with Maybank.
Open Account Trade Financing
You can obtain working-capital financing on any underlying trade transaction. Simply present us your trade receivables.
- Accelerated cashflow
- Reduced cost compared to other export financing arrangements.
Letter of Credit Advising/Confirmation
Social and political changes can increase your export risk, but Maybank can minimise it for you. If you are expecting LCs from your buyers, we provide a fast, efficient and reliable service to help you check their authenticity and confirm your LC, so you'll enjoy:
- Double assurance of payment, by issuing bank and confirming bank
- Minimised country/bank credit risk
You may send us any communications or instructions for Trade Services by mail, courier or fax; or electronic transmissions via our Electronic Banking Service or SWIFT; or scanned documents via email. Please refer to our Standard Terms and Singapore Supplement for further details.