Service Features

SCB offers assignment of proceeds service to exporters who want to assign one or more assignees the right to receive payment under bills for collection or letters of credit (which do not state that the L/C can be transferred). The goal is for the assignee to manufacture some or all of the commodities for shipping to the importer.

This assignment confirms that after the goods have been shipped; the assignee will be paid in accordance with the terms of the contract.

This assignment will only transfer the right to receive payment as stated in the document, but the execution of other conditions remains with the exporter or the beneficiary.
When the assignee has successfully exported the goods, the shipping documents will be submitted to SCB for collection under the terms indicated.
After payment has been made, the assignee’s account will be credited in accordance with the terms of the contract, and the remaining (if any) will be credited to the assignor's account.

Highlights

Our experienced teams perform operations in a timely, accurate, and trustworthy manner. In addition, certified documentary credit specialists (CDCS) are on hand to assist you at every stage of the process.
You can reach our professional assistance from any of SCB International Trade Service Centers located across the country.

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Benefits

Undoubtedly Funds
After payment has been made, the assignee is certain that the funds will be received.
Without Disclosure
The assignment can be transferred to any assignee without disclosing the identity of the importer.
Less Hassle
There is no need to sign a payment contract with the assignee because SCB facilitates transferring payment to the manufacturer correctly and completely according to the instructions stated in the request for the assignment of proceeds.
Increase Your Trade Opportunities
If the volume of orders exceeds your capacity, you might contact other manufacturers to assist in the production of goods.

Documents

Factsheet
Fees
Application for assignment of proceeds
Remarks:
Information required:
  • Original L/C or amendment L/C (if any)
  • Billing documents under the terms and conditions of the letter of credit e.g. invoice, packing list, bill of exchange, bill of lading, etc.

Contact Us

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SCB Business Call Center is available Monday - Sunday from 08:30 - 19:00 hrs.

0 2722 2222

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