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     -  Electronic Commercial Draft Rediscounting (Repurchase)
     -  Electronic Commercial Draft Rediscounting (Buy-out)
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  Home Page > Corporate Banking >Bill Business >Electric Commercial Draft Rediscounting >Electronic Commercial Draft Rediscounting (Buy-out)
Electronic Commercial Draft Rediscounting
 

I. Description
Electronic commercial draft rediscounting refers to the business act of the ICBC Bills Discounting Department and related outlets of ICBC purchasing in the form of full endorsement the undue electronic commercial drafts with true transactions and legitimately acquired by the customers.

II. Target Customers
Financial institutions with bill business license and eligible for interbank business.

III. Features and Advantages
i. This business type enables financial institutions to flexibly buy and sell credit assets, and thus adjust the asset size and optimize core indicators such as loan-to-deposit ratio;
ii. It allows financial institutions to effectively adjust the fund position, enhance the asset liquidity and simultaneously maintain asset returns;
iii. It may adjust the asset-liability ratio of financial institutions, enhance the asset allocation efficiency, and optimize the existing assets structure;
iv. It helps reduce the financing cost of financial institutions and decrease the asset risk.
v. It can shorten the transit time of commercial drafts and funds, reduce transaction costs, and enhance payment efficiency.

IV. Documents Required
i. The duplicate copy (or the original) of the applicant’s business license, and a photocopy of financial license, affixed with the official seal;
ii. The applicant’s documentary evidence for the qualification of transfer discount business;
iii. A power of attorney authorizing the handler to handle the business (stamped with the official seal and signed/stamped by the handler);
iv. The original of the handler’s identification card, and a photocopy of the identification cards of both the handler and the principal;
v. Other documents required by the ICBC Bills Discounting Department and related outlets of ICBC.

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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