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  Home Page > International Banking >Featured Product >Remittance Payment Link
Remittance Payment Link

I. Introduction:
If your company is an import company using RMB to buy FX for payment of goods, then use ICBC "Remittance Payment Link" which is a service package of forward FX sales, RMB pledge in full amount and import credit, The service is a smart solution for you to use less RMB to buy FX and reduce your cost.

II. Features and Advantages:
Under ICBC "Remittance Payment Link", you can earn the difference between spot rate and forward rate when exchanging USD for RMB, and interest on RMB fixed deposit. If the forward FX price and ICBC facility rate are good, your FX payment cost and financial cost can be drastically reduced. 

III. Target Clients:
When your company buys spot FX to settle goods payment against import L/C in order to avoid the risk in exchange rate. 

IV. Application Conditions:
1. Your company must place an order to buy forward FX, amount and term must match with the principal & interest and term of import facility loan.
2. Your company has to deposit the RMB used for buying spot FX into ICBC as fixed deposit. Sum of principal and interest of the RMB fixed deposit divided by forward FX rate must be equal to the principal and interest of ICBC facility loan, and the RMB fixed deposit must have the same term as ICBC facility loan.
3. No benefit in this package because of the high forward FX price and high ICBC facility rate.

V. Statement:
Information herein is for reference only. Industrial and Commercial Bank of China Limited reserves the final right of interpretation. Refer to the announcements and regulations of local branches for further details.