Finance for Cost of Freight and Insurance for International Trade
I. Introduction When your company has to pay freight charge and/or insurance fee apart from cost of imported/exported goods, ICBC can arrange facility and pay the freight charge/insurance fee on behalf of you depending on your requirement, if such expenses are compliant with the laws.
II. Target Client When you need ICBC to pay the freight charge and/or insurance fee on behalf of you apart from cost of imported/exported goods.
III. Features and Advantages Very simple steps, flexible payment methods. ICBC facility helps you make the payment, negotiate better terms/prices and increase profit.
IV. Application Conditions (I) Your company must be rated by ICBC with an approved credit line; (II) Provide guarantee as stipulated by ICBC.
V. Operation Guidelines Sign the master agreement with ICBC if you apply for the first time, submit the following when you apply each time: (I) Application form (freight/insurance facility for international trade); (II) Outward Remittance Application Form (if paid through remittance); (III) Freight contract and/or insurance contract or trade contract; (IV) Invoice (or payment advice); (V) Other documentation stipulated by ICBC.
VI. FAQ (I) Freight/insurance facility is only for the payment of freight charge and/or insurance fee for imported/exported goods; (II) If trade contract is used for the application, the contract must state that freight charge or insurance fee is borne by ICBC customers and payment methods.
Note: Information herein is for reference only. Refer to the announcements and regulations of local branches for further details. ICBC reserves the final right of interpretation.