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  Home Page > International Banking >Commercial Package >Import Jieyi Express
Import Jieyi Express
 

I. Description
If your company and foreign exporter agreed to use credit letter manner for settlement, need capital financing and hope to lock up financing cost, you can choose ICBC's "Import Jieyi Express" service.
Brief flow chart is as follows:

II. Transaction occasion
Your company and the foreign exporter agreed to use credit letter manner for settlement.

III. Functions and characteristics
1. Meet the capital requirements of your company.
2. Elude exchange rate risk, and lock up financing cost.
3. Establish forward buying free of guarantee charge.

IV. Warm tips
1. Your company should be assessed credit grade and credit line by ICBC.
2. The import inward bill item can only be used for the outside payment under the L/C.
3. The volume and limit of forward buying must correspond with that of import inward bill.

V. Cases
Company A has signed a 1 million USD's contract with a foreign exporter, Company B. They agree to take L/C settlement. In order to satisfy the needs of Company A in settlement and financing, ICBC suggests Company A the "Import Jieyi Express" package products. ICBC extends a 1 million USD's instant L/C for Company A. After receiving the receipt of 1 million USD's instant L/C, ICBC transacts a 90-day import inward bill and pay outside. In order to lock repayment cost, Company has a 90-day 1 million forward buying trust. The delivery date is the date is the same date of due import inward bill. On the day when the inward bill is due, Company A establishes forward buying and returns the principal and interest to ICBC after the delivery.


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