stanchart-launches-new-trade-finance-service-guarantee

StanChart launches new trade finance service guarantee

New service aimed at Singapore exporters.
In the Singapore trade finance space, Standard Chartered has notched up a first, becoming the first bank to offer a service guarantee to its overnight document checking service. Ultimately, the bank believes that this new trade finance service will result in a faster turnaround time for letters of credit LCs coming from Singapore exporters and as a handy tool to free up cashflow.

Under the newly launched overnight document checking service, customers will be allowed to submit export letter of credit LC documents to the bank up until 6.00pm, with the commitment that any notice of discrepancy NOD will be delivered by 9.00am the next working day. If Standard Chartered does not meet the 9.00am...
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