Issuing of L/C

Product description

       A promise of payment issued by the Bank of China to a foreign exporter at the request of a domestic importer。The bank undertakes to make payment to the exporter in compliance with the terms and conditions stipulated in the L/C。

Product characteristics

       1.Improve bargaining position。Open a letter of creditIt is equivalent to providing exporters with a conditional payment promise other than commercial credit, increasing the credit of importers, importers can obtain a more reasonable price of goods;

       2.Goods guaranteed。Change commercial credit to bank credit, bank intervention can make the trade itself more guaranteed, through documents and terms, effectively control the rights of goods, shipment date and quality of goods;

       3.Reduce capital constraints。For importers who use credit to issue credit, they can reduce the occupation of their own funds before payment after issuing credit。

Applicable customer

       1.Importers and exporters want to make certain agreements on each other's behavior to enhance the credibility of trade;

       2.The importer is in the seller's market and the exporter insists on using L/C for settlement;

       3.Exporters and importers have insufficient liquidity and intend to use trade financing。

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 importer submits the Letter of Application, and our bank issues the letter of credit with the deposit or the occupied line of credit after review;

       2.After receiving the letter of credit, the exporter shall prepare the goods for shipment in accordance with the terms of the letter of credit;

       3.The exporter presents the documents stipulated in the L/C and the presenting bank sends the documents to us for payment or acceptance;

       4.Our bank shall make payment or acceptance to the exporter after verification upon receipt of the documents;

       5.Acceptance of due date for external payments。