Service
- SCBM's Letter of Credit Transfer service lets your company transfer its Seller’s rights under an L/C to a second beneficiary, such as your own supplier or manufacturer. SCBM will issue a Transfer L/C to your supplier via that supplier's own bank (i.e., the Presenting Bank). If the supplier or manufacturer is in Thailand, SCBM will directly inform it of the L/C Transfer.
- You can assign an L/C in full or in part and can direct it to multiple beneficiaries, provided that the total amount does not exceed the amount in the original L/C
- After your supplier/manufacturer (assignee of the rights) exports the goods according to the Transfer L/C, it will send the relevant documents to SCBM to attach to your company's documents as seller. Your company will then instruct SCBM to collect payment from your customer's bank. Once payment is received, SCBM will disburse it to your supplier(s) according to the L/C rights assignment you specify.
- SCBM must serve as both the L/C Advising Bank and L/C Transferring Bank of the L/C
- You must inform your customer to specify Siam Commercial Bank PCL (SWIFT Code: SICOTHBK) as the L/C Advising Bank and L/C Transferring Bank
Highlights
Fast, accurate and trustworthy service from experienced SCBM personnel. Our Trade Specialists will provide advice and support at every step of the process.
Our L/C Transfer service provides global coverage via SCBM's network of partner banks
Benefits
- An L/C Transfer increases your payment flexibility when exporting. It eliminates the need to use bank credit facilities to purchase goods from suppliers/manufacturers because you simply transfer the rights of the L/C to confirm the purchase order and make payment.
- An L/C Transfer gives your suppliers/manufacturers confidence that they will receive payment for goods as long as they perform in accordance to the stated conditions. This helps you build and strengthen
your relationships with valued trade partners.
