Features

  • Fastest approval

    Credit decision in just 2 working days - guaranteed*

  • Hassle free

    Simple application for trade and working capital facilities of up to S$1.5 million

  • Extensive network

    Build your business by leveraging our extensive international network that spans over 50 countries

* We're committed to give you a decision in 2 working days - guaranteed or we'll give you $50 for every working day of delay. Terms and Conditions apply.

Details

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Import Services
  • Letter of Credit

    A letter of credit from us assures that payment will be made to your supplier after documents that comply with the letter of credit have been received.

  • Shipping Guarantees

    We understand the need for your goods to be cleared expeditiously. A shipping guarantee issued by us in favour of the shipping company allows you to take delivery of your goods before you receive the bills of lading from your supplier.

  • Trust Receipt / Import Loan

    We can assist you in meeting your immediate payment obligations as an importer by bridging the gap between making payment to your suppliers and receiving payment from your buyers.

  • Bonds and Guarantees

    We offer tailored solutions to meet your needs for performance bonds and bank guarantees.

  • Import Invoice Financing

    We can help you raise short-term pre or post shipment finance using commercial invoices (not proforma invoices) and transport documents. This applies for both domestic or cross border trade

Export Services
  • Export Invoice Financing

    You can apply for financing against an invoice as soon as it is issued, instead of waiting the entire credit period for the buyer to make payment.

  • Export Bills for Collection

    Enjoy simplified tracking and reconciliation of your export collections when you choose our documents against acceptance, documents against payment of clean collections services. Facilities for discounting of your export collections are also available.

  • Export Letter of Credit Advising

    Benefit from prompt advising of export letters of credit issued by banks within our wide international network.

  • Export Letter of Credit Confirmation

    Upon confirmation, be assured that payment will be made in accordance with the letter of credit after documents that comply with the letter of credit have been presented to us.

FAQs

  1. Where can I find the trade application forms?

    The trade application forms can be downloaded here.

  2. Where are the trade service counters located?

    The Trade Service Counters are located at the following locations

    Standard Chartered Bank (Singapore) Limited [BRD]
    6 Battery Road 4th Floor
    Singapore 049909

    Standard Chartered Bank (Singapore) Limited [CBP]
    Trade Services Centre
    Standard Chartered @ Changi
    7 Changi Business Park Crescent Level 01
    Singapore 486028

    (Operating hours – 9.30am to 4.00pm, Mon to Fri)

  3. What are the services provided at the Trade service counters?
    • General Trade Inquiries
    • Inquiry of incoming Export LC
    • Trade submission status
    • Outstanding trade bills inquiries
    • Paid trade bills inquiries
  4. What are the contact details of the trade services hotline?

    The trade services contact details are as follows:

    Trade Fax No
    (65) 6536 1981 – BRD [Exports / Shipping Guarantee]
    (65) 6446 7823 – CBP [Imports, including Invoice Financing]

    Client Services Hotline
    BUSINESS - TRADE SERVICES
    1800 743 3000 / +65 6743 3000 & PRESS “2”

    (Operating hours – 9.00am to 6.00pm, Mon to Fri)

  5. What is a Letter of Credit (LC)? Why is it used?

    A Letter of Credit is a conditional undertaking by the issuing Bank to pay the seller against clean/non-discrepant/compliant documents.

  6. Who Issues a Letter of Credit (LC)?

    It is issued by the buyer/applicant.

  7. What is the advantage of using a LC?

    It is used to secure payment for the seller and protects buyer by evidencing goods have been shipped/transported

  8. What is Documentary Collection?

    Documentary Collection is the collection by banks, of a sum of money, on behalf of an exporter (the Principal), due from an importer (the Drawee). Collections are typically used when

    • Both parties know the reliability of each other
    • No doubt of buyer’s willingness to pay
    • Stable political risk
  9. What is the fundamental difference between Documentary Collections and LC?

    The banks have no liability in case of non-payment/non-performance under documentary collection, whereas under LC, the issuing bank must pay if documents are clean.

  10. Can exporter discount documents under LC & Collections without having limits?

    Yes, an exporter can discount documents under LC & Documentary Collection, post acceptance from buyer's bank.

  11. Does a customer need any limits for import/export collection of documents?

    No, Documentary collection can be done for non-borrowing customers as well, no facility is required.

  12. Does a customer need any limits for receiving an LC and submitting the required documents asked for in the LC?

    No credit facility/limit is needed for receiving LC and submitting documents against an LC.

Documents Required

  • Photocopy of NRIC / Passport of all signatories
  • Bank statements for the past 6 months
  • Optional: Audited financial statements and management accounts for the last 3 years

^Documents are not exhaustive, and the Bank shall in its sole and absolute discretion determine the complete set of documents required in the case of each Application (and whether such documents have been presented to the Bank), and such determination shall be final and conclusive.

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Please call:
1800 743 3000

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