I. Introduction Export Bill Purchase: After your company submits all the documents as the pledge, ICBC offers credit to your company before the receipt of goods payment from your importer. Export Bill Discount: After your company submits all the documents and a payment commitment from the L/C issuing bank, ICBC offers credit to your company before the receipt of goods payment from your importer.
II. Features and Advantages 1. Not restricted by the rating for credit facility, receive the payment of goods in advance, speed up the cash turnover; 2. Settle the F/X in advance, lock down the risk in exchange rate; 3. Credit offered can be as high as 100% of the L/C amount
III. Target Clients 1. Export Bill Purchase: After your company completes the shipment and submits the documents. 2. Export Bill Discount: After your company receives the message from the importer on the confirmation of payment on due date.
IV. Operation Guide 1. First time: submit Export Bill Purchase/Discount Agreement. 2. Submit the following for each application: (1) Export Bill Purchase/Discount Application Form. (2) Other documentations required by ICBC.
V. FAQ 1. To ensure the smooth progress of your application, inform your overseas importer to use a bank of higher rating for L/C opening or confirmation; 2. Anytime you can check from ICBC the credibility of L/C opening Bank and confirming bank.
VI. 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.