Business introduction
The seller applies the discount business with the bank's acceptance or commercial acceptance bill to CMBC, which will transact the discount procedures after its verification. The interest for the bill discount shall be born by the buyer.
Except the difference in the discount interest bearer with traditional interest-paid bill discount from seller, other conditions are of the same. The issuance, endorsement, acceptance and warranty of bills are of the same and are regulated and bounded by existing laws and rules.
Materials that customers shall submit
1. Application for the use of interest-paid credit limit of the buyer;
2. List of suppliers;
3. Other materials that CMBC requires.
Materials needed for the seller to apply for the business
1. Application for discount;
2. Copies of Business License and Enterprise Code Certificate;
3. Written materials that can verify the authenticity of the trade background, such as copies of corresponding trade contract or agreement and VAT invoice;
4. Relevant financial statements;
5. Copies of the loan card and password;
6. Original of commercial bill;
7. Other materials that CMBC requires.
Business process
1. The buyer and seller shall all open deposit accounts in CMBC. The buyer or the seller shall put forward application for credit granting to CMBC (no credit granting is needed if they use the banker’s acceptance bill accepted by other banks);
2. CMBC will grant credit to the applicant according to relevant provisions on the credit granting service, determine the credit limit of the interest- paid bill discount from buyer, and conclude the supplementary agreement for the interest- paid bill discount from buyer;
3. The buyer draws bill and gives it to the seller;
4. The seller holds the bill and documentary materials to put forward an application for the interest-paid bill discount from buyer to CMBC and render relevant materials;
5. CMBC will verify the banker’s acceptance bill or commercial acceptance bill and documentary materials submitted by the seller to confirm the authenticity and validity of the bill and trade background;
6. CMBC will directly debit the deposit account of the buyer, after confirming the payment of discount interests, credit the deposit account of the seller in full amount of the par value;
7. When the bill becomes mature, CMBC will collect from the acceptor.
|
