Open L/C for Imports

Introduction

L/C for Imports is a kind of payment commitment made by our bank to foreign exporter at your request, committing to performing the responsibility of paying the exporters when all L/C articles and terms are met.

Benefits：

Improve your status in negotiation – Opening an L/C means you provide conditional payment commitment besides business credit, based on this enhanced credit, you can negotiate a more reasonable price for your imports;

Guaranteed goods – change business credit into bank credit. The involvement of banks can make trade itself more guaranteed. Through bills and articles, the ownership of goods, the shipping terms and the quality of goods can be controlled effectively;

Use your capital more efficiently – through L/C, you can use your capital more efficiently in the period from opening L/C to payment.

Handling Process

1. After signing contract with exporter, submit application and contract for imports to our bank, apply for opening L/C;

2. Our bank opens an L/C, the exporter’s bank will advise the exporter;

3. The exporter delivers the goods and submits the bills, and the exporter’s bank sends the bills to our bank;

4. After we receive the bills, we will make acceptance/payment to the exporter’s bank;

5. After you make acceptance/payment, our bank releases the bills;

6. You get your goods with the bills.

Incoming L/C for Exports

Introduction

It means that after our bank receives the incoming L/C, we will provided you a series of service including L/C advice, receiving, reviewing and sending the bills, and asking for payment etc.

Benefits:

Low risk – banking professionals reviewing bills for you, it can prevent the risks arising from “soft articles” effectively;

Get paid safely – so long as you guarantee the quality of the submitted bills, our bank can ensure you get paid in time;

Save costs – with our bank examining and sending bills and asking for payment for you, your time and costs can be saved.

Collection for Imports

Introduction

Our bank is entrusted by foreign banks to collect payment for imports from importers according to the instructions of the foreign banks, and deliver relevant commercial bills to the importers.

Benefits

Cost-effective – low expenses with our bank help you to save expenses and control costs;

Simple and easy – compared with L/C, the procedures are simple and easy;

Improve cash flow – under delivery of bills upon acceptance, the importers can get the bills for goods and dispose them upon acceptance. Payment is due as late as after the selling of goods and inflow of cash, no capital of yours is occupied, so that your financial conditions and your solvency are effectively improved.

Collection for Exports

Introduction

Entrusted by you, our bank can collect payment from the foreign importers through our foreign agency banks.

Benefits

Convenient – international bank network covers the whole earth, it can ensure you get payments from all over the world in a very convenient way;

Prompt - If the collecting bank and payment bank/the client’s bank have signed the “immediate credit” agreement, it will shorten the collection time. This service will be very prompt;

Cost-effective – the banking expenses for clean collection is comparatively lower.

Incoming Remittance

Introduction

It is a settlement way as follows: entrusted by the client, the agency bank remits money into our bank and instructs us to pay to the payee with the money. The forms of remittance include wire transfer (TT), check transfer (DD) and mail transfer. At present, wire transfer and mail transfer are more commonly used.

Benefits

Wire transfer is the fastest, which can help you to get paid in time and accelerate the pace of your capital flow;

Check transfer and mail transfer are cost-effective, which will help you to reduce expenses and control cost;

Widely applicable, operation easy and simple.

Outbound Remittance

Introduction

It is a kind of our service – entrusted by you, our bank instructs our foreign agency to pay to the designated payee by the agreed way of remittance, including wire transfer (TT), check transfer (DD) and mail transfer. At present, wire transfer and mail transfer are more commonly used.

Benefits

Compared with L/C and collection, remittance features simple procedures and low costs;

The speed of TT is the fastest, you can pay in time to establish sound credit and won the trust from the payee;

Low expenses of check transfer can help you to reduce expenses and control costs;

With outbound remittance under payment upon arrival of goods, you can avoid the risks related to goods receiving, shortage of goods or quality not meeting standard etc.

Handling Process

1. You submit and the application for outbound remittance, commercial bills/effective bills, archived forms on payment for imports or approval from the foreign currency authority (if needed);

2. According to your instruction, our bank will remit money to your designated payee through our agency bank.