OCBC Bank: First to leverage Singapore Customs’ electronic Banker’s Guarantee
- OCBC Bank has been constantly enhancing Velocity@ocbc, adding new features while ensuring a simple, intuitive interface
- The electronic Banker’s Guarantee issued by OCBC Bank on behalf of vCargo Cloud, a leading Infocomm Technology solution
- Leading Infocomm Technology solution and service provider that performs customs declaration services for forwarders and shippers
- OCBC Bank’s API connectivity with the Networked Trade Platform has also enabled the bank to electronically transmit
- Businesses benefit from this more efficient process as it mitigates the risk and also costs that result from delays
- As a declaring agent, vCargo Cloud has to furnish Banker’s Guarantees to Singapore Customs to cover the payment of duties, taxes and fees
