INTERNATIONAL BUSINESS

 Introduction:

i.A letter of credit is a guarantee of conditional commitment of payment for our bank. After having signed export trade contract under documentary letter of credit, customer may request the buyer to entrust the issuing bank to choose our bank as the advising bank and negotiating bank, our bank shall advise the customer promptly as long as we received the L/C opened through our L/C advising route;

ii.Customer shall present the documents under per L/C to our bank after the goods having been loaded. Our bank shall examine the documents in strict accordance with the international customs and post the documents to appointed bank in per L/C. Our bank shall advise and release the fund to the customer after the overseas bank having confirmed and transferred the payment to our bank within the specified period.

Feature:

i.Compliant with international practice. A letter of credit shall be opened in compliance with international standard in the form, procedure and specifications;

ii.The bank is responsible for processing documents only. An L/C is opened on the basis of sales contract whereas it is independent from sales contract after being opened, the bank shall only ensure the compliance of documents and L/C clauses. Unless an evidence of fraud is testified, the issuing bank must make the payment if it meets the requirements of “document to document consistency, document to L/C consistency”;

iii.Issuing bank or confirming bank (if any) shall undertake the primary obligation of payment, issuing bank or confirming bank must make the payment against compliant presentation;

iv.Our bank owns experienced and professional business personnel;

v.Our bank advise an L/C the day we received it without any charge;

vi.Our bank deals with the presentation in 1 working day with lower charge; reimburse in fast speed.

Service object:

Corporate customers that have the operating right on import and export.

Business process:

i.Customer shall sign a trade contract with importer under L/C;

ii.Our bank shall advise customer after receiving the L/C;

iii.Customer shall prepare goods, make shipment and collect documents in accordance with articles of L/C, then present the documents to our bank;

iv.Our bank posts the documents and reimburse after examination;

v.Receive the payment.