Service Summary

A settlement manner in which the seller, after delivery of goods commissions the bank to collect money from the non-local buyer who commits to pay according to the sales contract signed between the seller and the buyer.

Features

•  Legitimate sales contract is required

•  Threshold of RMB 10,000 per item, with lower limit of RMB 1,000 for the Xinhua Bookstores system

•  Two collection modes, by telegraph and by mail, as well as two payment modes, against documents and against goods, are available for your choice

•  Limited rights of full dishonor or partial dishonor for the payer

•  Rights of re-collection upon unjustified dishonor for the seller

Business Processing

Both the buyer and the seller involved in this service must be state-owned corporations, supply and sales cooperatives, and urban and rural group enterprises with sound ongoing operations.

To handle it, the applicant shall present the purchase/sales contract and the delivery invoices, fill out the quint-duplicate Collection and Acceptance Form with seal in place on the second one.