Export L/C Negotiation

1. Product Definition

It is a kind of settlement service in which, after shipment and documentation according to a L/C (not limited to L/C advised by the Bank), the customer submits relevant documents to the Bank, and after examination, the Bank delivers the documents and claim for reimbursement according to the requirements of L/C, and transfer relevant funds into the account designated by the customer after exchange collection.

2. Service Advantages

(1) Professional examination of documents enables fast document forwarding. With documents being handled in a concentrated manner, all documents are examined by experts in the Head Office, so the quality and efficiency of examination can be guaranteed;

(2) With a network reaching the globe, the Bank guarantees the collection of exchange in an efficient and timely manner;

(3) Diversified options make individualized financing possible. Under the export L/C, we can offer different financing products according to the requirements of customers.

3. Applicable Scope

It is applicable to all enterprises that handle export businesses by way of L/C settlement.

4. Business Procedures

(1) Presenting of documents. An exporter stocks up and ship goods, prepare all export documents required under the L/C, and submit such documents to the Bank within the validity of the L/C;

(2) Document examination. After ensuring that the documents are correct through examination, the Bank delivers the documents to the issuing bank or the bank designated by the issuing bank to claim for reimbursement. If there are discrepancies in the documents, the Bank shall contact the exporter to replace or amend relevant documents. If no change can be made, the documents may be delivered after such discrepancies are confirmed by the exporter;

(3) Delivery of documents. Claim for reimbursement to the issuing bank or the reimbursing bank designated by the issuing bank according to the route and method for claiming for reimbursement as specified in the L/C;

(4) Receipt and transfer of exchange. After receiving the exchange, the Bank will transfer the funds into the relevant account specified by the exporter and go through relevant formalities for verification and writing-off of export proceeds.

Please call our customer service hotline 95561 or contact local branches to conduct this business, and you will be reached by our staff.