Clearing and Settlement Services

We provide settlement services for SGD, USD, RMB and other currencies.

(1) Import Letter of Credit
Import Letter of Credit gives assurance when dealing with unfamiliar suppliers. As an Import Letter of Credit helps control the payment terms and conditions and establish creditworthiness with the supplier, businesses can be confident that payment will not be made until the documents are received and verified to be in order.
Transferable LC allows the beneficiary to transfer the LC in whole or in part to second beneficiary.
Back-to-Back LC provides a unique solution to businesses that require end-to-end financing.
(2) Letter of Credit Advising
ICBC is able to provide prompt advice via Email, fax upon receipt of documents and efficient payment according to the instructions, when businesses inform their supplier to send their shipping documents to ICBC.
(3) Import Bills for Collection
ICBC is able to provide prompt advice upon receipt of documents and efficient payment according to the instructions, when businesses inform their supplier to send their shipping documents to ICBC.
(4) Export Letter of Credit Negotiation
With ICBC’s strict service standards, the documents are negotiated and dispatched quickly, with the assurance that the documents will not be rejected.
(5) T/T Remittance
T/T Remittance is available via Telex or SWIFT.