I. Introduction If the payment term on your supplier's goods is cash on delivery, ICBC provides import T/T credit for your payment to address your cash turnover. Your company will be more recognized by your supplier because of your fast remittance.
II. Features and Advantages ICBC import T/T credit facility is flexible in repayment, good price. The facility helps you make payment under a tight cash turnover. Your company will find the service helpful in increasing your bargaining power and profitability.
III. Target Clients Apply when you need ICBC to pay in advance for your import which has to be paid upon delivery.
IV. Operation Guide Submit the following to ICBC: 1. Import T/T Credit facility Agreement; 2. Import T/T Credit facility Application Form; 3. Outward Remittance Application Form; 4. Documents against outward remittance, including contract and Customs Declaration; 5. Certificate of indebtedness (loan); 6. Other documentations required by ICBC.
V. Application Conditions 1. Your company must obtain rating by ICBC with an approved credit line; 2. Your company must provide guarantee as required by ICBC.
VI. FAQ 1. ICBC import T/T credit facility is generally of a term up to 120 days; 2. T/T credit facility is only applied to the settlement of payment against cash on delivery;
VII. Statement Information herein is for reference only. Industrial and Commercial Bank of China Limited reserves the final rights of interpretation. Refer to the announcements and regulations of local branches for further details.