INTERNATIONAL BUSINESS

 Introduction:

It is short-term financing of which the right of recourse is reserved,which shall be controlled by documents under L/C or outward collection within line of credit or being guaranteed.It is divided into export bill purchase under L/C and export bill purchase under D/P collection.

Feature:

i.To get the fund before its paid so as to speed up capital turnover;

ii.The financing process is simpler compared with working capital loan;

iii.For the documents in compliance with L/C,customer could apply for export bill purchase even if he didnt have line of credit in our bank.

Service object:

Domestic corporate customers which have right for import and export trade and comply with the credit conditions of our bank.

Business process:

i.Customer shall present export documents and application for export bill purchase;

ii.To provide admissive guarantee (if necessary),and sign《Contract on export bill purchase》and《Contract on guarantee/mortgage/pledge》(if necessary);

iii.Our bank shall release the fund the exporters account after examination;

iv.Our bank would claim for reimbursement by mailing the documents to the opening bank or appointed bank abroad;

v.The bank abroad shall advise the applicant of the L/C or payer of the collection after receiving the documents;

vi.The bank abroad makes payment to our bank duly which shall make up for the bill purchase.