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  Home Page > Corporate Banking >Bill Business >Bill Discounting Business >Discounting of Bank Acceptance Bill (Partial Recourse)
Discounting of Bank Acceptance Bill (Partial Recourse)
 

I. Description
Discounting of bank acceptance bill (partial recourse) refers to the business that the ICBC Bills Discounting Department and related outlets of ICBC, on the basis of controllable risk, buy out undue bank acceptance bills from the bearer, and undertake to waive the right of recourse to the bearer and its designated prior bearers.

II. Target Customers
Some listed companies or the institutions of foreign enterprises in China.

III. Features and Advantages
i. This business type can realize clean transfer of corporate bills without indication in the contingent liability account, so it is equivalent to recovering accounts receivable, which optimizes the financial statements;
ii. It may vitalize the existing assets of the enterprise, reduce related financial expenses such as interest expense, enhance the assets utilization ratio, and reduce the financing costs; iii. This business type exempts the enterprise from possible right of recourse caused by discounted bills and thus reduces its business risks;
iv. Easy procedures, practical and efficient financing meet the enterprises' demands for quick availability of funds..

IV. Documents Required
An agreement on Discounting of Bank Acceptance Bill (Partial Recourse)
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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