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     -  Rediscounting of Bank Acceptance Draft (Partial Recourse)
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  Home Page > Corporate Banking >Bill Business >Bill Re-Discounting >Rediscounting of Bank Acceptance Draft (Partial Recourse)
Rediscounting of Bank Acceptance Draft (Partial Recourse)
 

I. Description
Rediscounting of bank acceptance draft (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
Financial institutions with bill business license and eligible for interbank business.

III. Features and Advantages
i. This business type enables the rediscounting selling bank to realize clean transfer without indication in the contingent liability account, which optimizes the financial statements;
ii. It may release the credit limit of rediscounting selling bank and enhance its credit use efficiency;
iii. This business type exempts the rediscounting selling bank from possible right of recourse caused by bills and thus reduces its business risks;
iv. It may vitalize the existing assets of the financial institution, reduce related financial expenses such as interest expense, enhance the assets utilization ratio, and reduce the financing costs;
v. Easy procedures, practical and efficient financing may quickly increase the asset liquidity of the financial institution.

IV. Documents Required
Refer to Commercial Draft Rediscounting.

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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