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  Home Page > Corporate Banking >Bill Business >Bill Discounting Business >Commercial Draft Discounting (through Agent)
Commercial Draft Discounting (through Agent)
 

I. Description
Commercial draft discounting (through agent) refers to the bearer (draft owner) authorizing a prior endorser with direct trading relationship to apply for commercial draft discounting at ICBC Bills Discounting Department and related outlets of ICBC on its behalf.

II. Target Customers
Enterprises in pursuit of financing facilities and holding acceptance drafts of ICBC.

III. Features and Advantages
i. Commercial draft discounting (through agent) can meet the enterprises’ diversified financing needs with commercial drafts;
ii. It helps an enterprise enhance its financing efficiency, speed up the capital turnover, and thus enhance the efficiency of capital utilization;
iii. It helps an enterprise eliminate the loss or destruction risk of bills, maintain the asset safety, recoup funds quickly, and improve the asset liquidity.

IV. Documents Required
i. The original and a photocopy of the agent’s business license; for enterprises whose business license, organization code certificate and tax registration certificate are not combined, the original and a photocopy of the tax registration certificate shall be provided additionally;
ii. A power of attorney by the agent's legal representative, the original and a photocopy of the identification cards of the agent’s legal representative and the handler;
iii. The original and a photocopy of Tripartite Partnership Agreement between the client, the agent and the discounting bank;
iv. The original and a photocopy of the Power of Attorney for Agent-based Discount (not required if specific provisions are given in the Tripartite Partnership Agreement);
v. The original of the commercial draft (endorsed by the agent);
vi. Refer to the Commercial Draft Discounting Business for further details.

Note: The information provided on this page is for reference only. Concrete business shall be subject to the announcement and provisions of the local outlet.


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