Examination of Documents (L/C)

Product description

       Document review of L/C refers to the comprehensive service provided by Bank of China for exporters under L/C, which integrates document review, document delivery and remittance request。

Product function

       It is used to meet exporters' settlement and collection needs under L/C。

Product characteristics

       1.Used to meet exporters' settlement and collection needs under L/C;

       2.Lower risk。The bank credit of the issuing bank replaces the commercial credit of the importer and provides the exporter with a conditional payment promise;

       3.High initiative。An unconditional promise of payment is obtained from the issuing bank as long as the quality of the documents is guaranteed, and the quality of the documents is fully under the control of the exporter;

       4.Cost shifting。Bank charges such as the opening of letters of credit can be borne by the importer, which is more beneficial to the exporter。

Applicable customer

       1.The exporter does not know or believe the credit status of the importer and needs the other bank to provide additional commitments;

       2.Exporters need to apply for package loans from local banks to finance their goods for export。

Application conditions

       1.Approved and registered according to law, with annual inspection of the legal person's business license or other valid documents to prove the legality and scope of its business;

       2.Have the right to import and export。

Handling process

       1.The exporter (beneficiary) shall submit export documents to our bank after preparing and shipping the goods in accordance with the terms of the L/C;

       2.After reviewing the documents, our bank will send the documents to the foreign issuing bank or designated bank for remittance claim;

       3.The foreign issuing bank shall present the documents to the applicant under the credit after receiving the documents;

       4.The foreign issuing bank shall pay to us when due, and we shall pay to the exporter in full。
 
Cino advantage

       1.High level of examination, rich experience in dealing with complex clauses, professional level in the industry second to none。

       2.Strong bargaining ability, effectively deal with and deal with foreign disputes such as unreasonable refusal to pay, and use international practices to protect your rights and interests to the maximum extent。

       3.Our partner banks receive foreign exchange fast, worldwide agent bank network, advanced scientific and technological means and strict collection assessment system, to provide a strong guarantee for your timely recovery of export payments。