- Corporate banking
- Trade Finance & Remittance
- Exporting
- Letter of Credit Confirmation
- Corporate banking
- ...
- Letter of Credit Confirmation
Letter of Credit Confirmation
SCBM ensures payment on L/Cs under risky conditions. Export anywhere with confidence.
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- SCBM's L/C Confirmation Service gives you assurance of payment when exporting into emerging-market countries or other risky circumstances. If your company has doubts about a customer's L/C issuing bank or potential instability in the customer's nation, SCBM's L/C Confirmation service is the answer.
- You must inform your customer to issue the L/C by nominating Siam Commercial Bank as the L/C Advising Bank, L/C Confirming Bank and L/C Negotiating Bank. The payment method must be via Reimbursement.
- If the L/C Issuing Bank fails to make payment, or if the country of the Issuing Bank restricts such payment, SCBM will make the payment on the L/C when you submit collection documents in compliance with the L/C conditions
Highlights
SCBM confirms payment for L/Cs issued by various banks around the world*
* Subject to SCBM’s risk appetite on transaction date
Get professional assistance from our Trade specialists at any one of SCBM’s branches.
Benefits
- You can produce or deliver goods with confidence that you will be paid
- Reduce the risk of non-payment by an unfamiliar or doubtful L/C Issuing Bank
- Expand your client base by exporting under L/Cs with new trading partners around the world and into new markets that may carry higher risks
- Increase your business's liquidity by making use of the confirmed L/C to request SCBM to buy/discount documents under L/C
