Product information

Credit Insurance Financing means when you have been granted the “Short Term Export Credit” insurance from China Export Credit Insurance Company (also known as “Sinosure”), paid the required premium and made the shipment of your cargo, you can submit the whole set of documents to us, after you have had the right of the receivables under the documents pledged with our bank and assigned the rights arising from the Short Term Export Credit insurance to us, we can provide short term financing for your export activities at your request.

Advantages for you

The exporters under the export credit insurance can shift the country and commercial risks to Sinosure, and keep their receivables safe; A more convenient way for financing; Easy access to financing channels; Accelerate your capital circulation, enhance your financial possibilities and mitigate exchange rate risks.

Application Procedure

1．After the buyer’s credit limit is successfully obtained, you may apply for the financing limit under the export credit insurance with CMBC;

2. After the applied financing credit is approved we will sign the Right Assigning Agreement with you and Sinosure;

3. Arrange for shipment and pay premium to the insurance company;

4. Apply for financing from CMBC with the specified documents;

5. We will grant you the desired funding after we have reviewed and approved all of your submitted documents.

6. Return the funding to us after you have received payment, or if the occurrence is confirmed, we will make a claim (or make you to do so) against the insurance company, who upon the determination of liability, shall indemnify your loss.

Product information

International factoring means a comprehensive financial service including payables expediting, sales ledger management, credit risk guarantee and factoring prepayment, which is provided collectively by the export and import factors on the basis of assignment of receivables for clients who are selling goods to importers using O/A or D/A.

Advantages for you

Increase your sales – Provide more competitive payment conditions such as O/A or D/A for your new and existing clients, help you to build your foreign client base and increase the sales;

Mitigate the risks – The factor now undertakes all risks that should have been borne by the importers, you can have 100% guarantee for foreign exchange collections;

Save your cost – You can leave the works such as credit investigation, accounting management and receivables collection to the factors and make your own job easier, so as to reduce the management cost;

Simplify procedures – You are relived from the cumbersome procedures with the general L/C transactions.

Enlarge your profit – As your exportation become bigger, management cost is reduced and the loss from credit risks and bad debts is prevented, and the profit will grow;

Improve statement – factoring without recourse may have the tax refund in advance.

Application Procedures

1.When you have reached an factory agreement with the factor you may file an application for factoring service with us;

2. Upon your request we will request the factor to conduct credit assessment on the importer and approve the credit line.

3. You deliver the goods to the importer and send the invoice containing the assignment provisions to the importer (O/A) or we will send the documents (D/A);

4. You submit the copies of invoice to us and we notify the factors of the details;

5. We will grant you the loan not exceeding 80% of the sum of the invoice;

6. The import factor will collect payment from the importer and pay the sum to our bank a few day before the invoice is due;

7. In the event that the importer fails to pay 90 days after the invoice due date, the factor will make a guarantee payment;

8. After having deducted the loan principle/interest and relevant fees, we will pay the remaining balance to you.

Product information

Export order financing means when you are using appointment collection or remittance as the means of settlement, we can release a short term loan based on the valid order or trade contract you provided.

Advantages for you

Secure more trading opportunities – We solve your problem when you feel uncertain about an order at the shortage of fund, and help you to do your business without worries and catch all opportunities;

Ease the financial pressures – Unload the current funds pressure from you in the processes like acquisition, processing, manufacturing and transportation;

Easy and simplified procedures – easy operation and requirements on documents.

Application Procedure

1. File an application to us within the extent of your credit limit and sign the Primary Agreement for Trade Financing;

2. After we have reviewed your application we will release the required amount of loans;

3. After you have delivered your goods you can apply for invoice discounting or export finance to return the loans; or you may return it with the export payment collect by our bank.