I. Introduction
You may face the following situations when import or export commodity:
1. Prefer deferred payment of goods because of tight cash turnover.
2. Sellers accept deferred payment, but bank's support on the credit is required.
3. Reduce financial cost, not willing to use bank loan.
Then bank acceptance draft is your best solution. It greatly increases efficiency by using none or minimal capital to purchase goods domestically.

II. Features
1. Increase bargaining power-bank acceptance draft issued by ICBC boosts your company image and credibility., with which you can bargain for much favorable terms.
2. Reduce occupied funds-Use ICBC bank acceptance draft instead of company own funds.
3. Lower cost-fee for issuing bank acceptance draft far is less than interest rate of bank loan. Your cost is easier to control.
4. Turn into cash quickly-Your trading partner holding bank acceptance draft issued by ICBC as if cash on hand. The draft is endorsable, transferable or change into cash.

III. Target Client
Use ICBC bank acceptance draft if you need to pay for the raw material or commodity by deferred payment.

IV. Operation Guide
Submit the following to ICBC:
1. Application Form
2. Photocopy of Business License or Body Corporate License, ID document of Legal Representative.
3. Balance Sheet, Profit and Loss Statement and Cash Flow Table of the previous year and current period.
4. Commodity Contract or original and photocopy of VAT invoice.
5. Documentation on the guarantor or collateral (pledge) (if necessary).

V. Application Conditions
1. Your company must be rated by ICBC with an approved credit line.
2. Your company must pay the security deposit stated in ICBC rules.
3. Submit your Commodity Purchase and Sales Contract or the original of VAT invoice when apply. 

VI. Responsibility Statement
The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.