By lun neh 
When we deposit our money in some bank, we deposit it in complete trust. When we do business through the bank, the bank wants to ensure that the trust is maintained. So what it does is do, is that it issues a letter known as a letter of credit. It is from the business owner’s bank to our bank, reassuring us that the owner will make the payment.
A line of credit ensures the exporter or seller that their money will be repaid on some period. It is an essential document that must be kept under all security measures. Upon receiving it, you should take advice on it from some bank.
DBS bank provides LC advising. In this facility, it acts as a channel between the issuing party and the beneficiary. It secures the letter and authenticates whether it is original or not.
DBS bank notifies its consumers when they receive a letter of credit and either fax you or call you when they receive the new letter of credit. You don’t even need to collect it, they will keep it safeguarded for you, and if you are a DBS IDEAL user, you will receive a copy of the letter.
Upon receiving a letter of credit, if you are unsure of the region and credit of the business owner’s bank, you can ask DBS bank to negotiate it for you or to confirm the LC for you.
DBS Bank also issues your exported LC to your seller by transferrable letter of credit. You can also monitor your cashflows and keep an eye on them.
With many facilities, DBS bank also facilitates export services such as:
- Export open account, post-shipment financing: Post shipment financing is made by the DBS bank to the exporters. Bank automatically reminds you regarding your post shipment loan settlement via DBS IDEAL.
- Export bill financing under documentary bill collection: When you wait for your buyers to pay, DBS bank finances your export bills.
- Export pre-shipment financing: DBS bank provides pre-shipment finances under the packing credit to bridge the finances.
With its many services, DBS bank also provides a letter of credit and export services to ensure that transactions between the buyer and the business should not hamper. DBS bank understands your selling and financing needs.
DBS Bank will securely safeguard your letter of credit along with your exporting bills and services.