Export Services

Outward Bill Collection (DA/DP)

Collect your payments easily and efficiently

Facilitate the flow of payment with our Outward Bill Collection. DBS acts as professional agent to collect payments from the buyer on your behalf. Your transport documents are only released to the buyer once we’ve received either payment or an accepted Bill Of Exchange promising payment at a later date.

 

Documents against Acceptance (DA)

With DA, once the buyer has accepted the bills of exchange/draft, he has promised to pay at a later date. Your export documents will be released to him by his bank.

 

Documents against Payment (DP)

With DP, once the buyer has paid, his bank will release your export documents to him.

 

How does Outward Bill Collection work?

 

  1. The seller and buyer enter into a contract and agreed that payment be made on the basis of a documentary collection
  2. The seller ships the goods and tenders the documents to DBS (Remitting bank) together with a corresponding collection order
  3. DBS sends the documents along with its collection instructions to the buyer’s bank (Collecting bank)
  4. The Collecting bank notifies the buyer of the arrival of documents for payment/acceptance
  5. The buyer pays the amount due or accepts the draft and in turn receives the documents
  6. The Collecting bank remits the amount to DBS
  7. DBS credits the amount to the seller’s account

 

Why choose DBS Outward Bill Collection (DA/DP)?

  • Grow your business with the Best Trade Finance Bank in Singapore, as named by Alpha Southeast Asia and The Asian Banker in 2012. We also received this accolade from Global Finance in 2012, for the 8th consecutive year
  • Enjoy the convenience of island-wide collection through one of our Trade Document Counters at Marina Bay Financial Centre, Towner, Aperia and Jurong Gateway (Toh Guan)
  • Save time with our AUTOFAX or IDEAL™ (our online banking platform) notifications
  • Access our Outward Bill Collection Services without the need for a credit facility
  • Convert assets to cash immediately, shorten your cash collection cycle and improve your cash flow by asking DBS to discount the accepted bills
  • Submit forms any time before 6pm (on a working day) to ensure your documents are processed on the same day. We offer one of the latest cut off times in Singapore for your convenience

 

Pricing

 

Item

Pricing

Export/Outward Bill Collection

Account holder: 1/8% flat, min SGD 80

- Holding/maintenance fees for unpaid or returned items

SGD 50 per month
Sight bills: After two months' grace
Term bills: After two weeks' grace from maturity date

- Amendment to collection instructions

SGD 30 flat

 

FAQs

How do I complete the application form?

Please call DBS Business Care at 1800 222 2200 for help in completing the application form.

How long do you take to process the documents?

Generally if your application is within banking facilities and documents are complete and in order, we can process it on the same day if we receive it at our MBFC or Toh Guan Trade Counters before 6pm.

How do I check the status of my documents?

You can track the status of your documents through DHL, however you can also monitor payments through IDEAL™.

Do I need credit facility to apply for this service?

No, you do not need a credit facility to apply for this service.

 

How do I apply?

Simply submit your application form and trade documents at any of our Trade Document Counters at Marina Bay Financial Centre, Towner and Jurong Gateway (Toh Guan).