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HSBC is suggesting that SMEs in Singapore consider using L/Cs as they prepare for what may be an upturn in the global economy. HSBC Singapore's head of commercial banking says L/Cs should be considered to reduce the risks in international trade transactions. Tan Siew Meng reckons that with signs that the worst of the economic recession may have passed, many SMEs in Singapore are turning their minds to preparing for the return of economic growth. Specifically, she argues that, whenever possible, SMEs should not rely on doing business on open account terms and L/Cs provide a "smart way" to make sure that the right terms and conditions are in place with buyers.