Auto Distributors Tripartite Network Advance Payment Financing
(I) Product Definition
The Bank provides auto distributors with advance payment financing for purchasing cars from auto manufacturing or sales enterprises. Based on actual situations, the Bank adopts car/certification supervision or non-supervision, while the distributor uses sales revenue to repay financing to the Bank and picks car/certification according to its sales schedule, and auto manufacturing or sales enterprises bear responsibilities such as regulating sales, buying back upon presentation of certification/cars, buying back upon presentation of certification, unconditional buying back and joint guarantee etc.
(II) Product Features
With certain conditional guarantee provided to distributors by core enterprises, distributors can enjoy more favorable credit extension policies from the Bank.
(III) Target Customers
First-level distributors that are authorized by core auto manufacturers and had signed tripartite network agreement with the Bank.
(IV) Application Procedures
After the Bank signed tripartite network agreement with core auto manufacturers, first-level distributor authorized by core auto manufacturers submits application for credit extension to operation organizations (as notified by the core auto manufacturer) designed by the Bank, once admittance criteria of credit extension is met and approved by the Bank, the distributor receives financing for purchasing cars from auto manufacturing or sales enterprises.TOP